Sembcorp Ind just turned high up. The overall market suddenly had a momentum shift where other blue chips were slowly climbing too. Together with Sembcorp, Sembmarine is also moving quietly in the background with rising price. Both stock are poised to reach a short term supply zone soon. I am baffled as to why Sembcorp Ind had a superb flush in the morning first at 2.83 before reaching now 2.93, almost 10 cents gain which is rarely seen in this counter. The chart is not bad but the price ran could be overdone.
I looked at the Dow Jones, it was no wonder the market turned because it just had a big reverse since morning's selling. Dow as of now has reached a supply zone and hence it's not wise to go long for now. Maybe later when it retrace, we shall revisit again.
Ronald K - Market Psychologist - A Stock Market Opportunist
