Monday, May 21, 2018

Sembcorp Marine - ready for a big jump?

Sembcorp Marine seems to be a potential stock to move in near term, here are the few observations.

1) Oil price is now above $70, previously Sembcorp Marine and many of the oil related stock suffered big drop due to oil price falling previously. Now that the Oil price is climbing higher, it is time for the oil relate stock to make a comeback.

2) On the technical chart, you see that the price still on a Higher High, Higher Low pattern, this means that it is an Uptrend formation. The good news is, we are now STILL at the base area, the price have yet to surge.

3) It is in the Strong Sector, Oil Producer or Services stock has been strong lately in other market, in Malaysia - Dialog, in Hong Kong - CNOOC 0883.HK & PetroChina 0857.HK is moving up like High speed train.

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