Sembcorp Marine – [ Caught The Turn Up, Hitting Our Target, Where To Next? ]
Chart Source: PoemsView 10th May 2018
Sembcorp Marine, saw a nice upswing yesterday after President Trump pulled out from the Iran Nuclear deal.
Oil prices soared to a 3.5 years high as the exit raised the risk of conflict in the Middle East and casting uncertainty over global oil supplies at a time when the crude market is already tight.
As Iran is one of the major oil exporter and with further sanction on them there might be a reduction in Iranian crude supplies which could continue to drive the oil price up.
Sembcorp Marine being one of the few oil related stocks in Singapore saw it turned up yesterday as oil moved up.
As our exclusive clients, they were informed of the move in the morning when Sembcorp Marine was trading at $2.14 when it broke above the 50 days moving average.
The buying got stronger during the day and it managed to hit our first target of $2.19. A nice 2% upside for a days work.
Whats next? We have our eyes set on $2.24 and from there on we will evaluate the trade once again.
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Kelwin&Roy
