Description
⋅ Sembcorp Ind (U96) traded above its consolidation range (JAC) today.
A summarized analysis, we noted that supply has been weak throughout the 21 days range. We also noted that an early spring on 29 Sept.
On the other hand, demand returned near to the end of the range, with Sign of Strength (12 Oct) and JAC today (15 Oct).
Here's our plan:
Entry: On Open
Target Price: S$1.55- S$1.60
Stop Price at S$1.31 (Below HVN Level)
Trading Stop: 7D SMA
Fundamentally, company may be expecting more solar related projects.