Chart Source: Poemsview 24th Nov 2019
Sembcorp Marine had a huge run up after the news of Temasek raising its stake in Keppel Corp which might spark a consolidation in the domestic rig building sector. It ran on rumors/hopes of a privatization or takeover which fizzled after awhile.
We’re glad we managed to catch the big run before it came and are smelling an opportunity for an entry.
On the chart, Sembcorp Marine looks like its on its short term uptrend support line. If this supports hold, we might see some upside in the coming days. We’ll be watching out for this on Monday.
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