Chart source: Poemsview 19th April 2021
Sembcorp Industries saw a blockbuster move today moving up close to 11%. It finally closed up 10% which is a very good move by any measure and especially in Singapore.
A few reasons why Sembcorp Industries had such a good run on a Monday when the broader market was sleepy and experiencing Monday Blues. Positive ratings from HSBC and Credit Suisse sent the stock hitting 10-month high and also helping us our third target of $2.11 giving us a nice upside of close to 10%.
Another reason and from the technical perspective Sembcorp Industries had a breakout from its horizontal resistance of $2.01. Volume started to pile in and that sent the stock flying up. It had been ranging for about a week and finally broke and never look back. So these are some possible reasons why we saw Sembcorp Industries running up. Well, more importantly, we hope that this run was a good one for you.
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