Sembcorp Industries – [Why Was It Up Over 10% Today? ]

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.

Sembcorp Industries has been good to us for the year as we have been alerting our client through out the year at various level. The latest was just two weeks back when it was trading at $1.93!

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Yours

Humbly

Kelwin&Roy

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