WILL THIS STOCK CONTINUE TO HEAD NORTH NOW?
Dear readers, yesterday Sembcorp Marine stock was one of the best performers on the Singapore Stocks Exchange, rising by 8.125% to close the trading daty at $1.73. Sembcorp Marine stock rise followed that of what could be called a truce (at least for now) in the US and China trade tensions and as well as a signal of cut in oil production by some of the largest oil producers.
Earlier in Oct 2018, Sembcorp Marine stock price crossed over the 200-Days-Moving-Average from below, in a pattern that seems to break a long downtrend for this stock. However, following then, oil prices development and Sembcorp Marine’s corporate fundamentals have caused Sembcorp Marine to head south such that the stock price has consolidated around the $1.60 range for much of Nov 2018 until the rebound yesterday.
Moving ahead, the development on the oil price front should continue to exert its influence on Sembcorp Marine stock price. Even though, for long-term investors, the consideration of the fundamentals of Sembcorp Marine should be an overriding factor in picking this stock from the other oil-related stocks on the Singapore and global stocks exchange. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.
Earlier in Oct 2018, Sembcorp Marine stock price crossed over the 200-Days-Moving-Average from below, in a pattern that seems to break a long downtrend for this stock. However, following then, oil prices development and Sembcorp Marine’s corporate fundamentals have caused Sembcorp Marine to head south such that the stock price has consolidated around the $1.60 range for much of Nov 2018 until the rebound yesterday.
Moving ahead, the development on the oil price front should continue to exert its influence on Sembcorp Marine stock price. Even though, for long-term investors, the consideration of the fundamentals of Sembcorp Marine should be an overriding factor in picking this stock from the other oil-related stocks on the Singapore and global stocks exchange. Join the emailing list to receive regular Financial and Singapore stocks newsletters too! Like" me on Singapore Stocks Investing Facebook page to receive all posts on your Facebook as well as read more articles. Follow me on Twitter too.