SEMBCORP MARINE STOCK HAS REBOUNDED MORE THAN 10%, WHAT IS NEXT?

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Sembcorp Marine stock
Dear readers, ever since reaching a low of $1.51 on 26 Dec 2018 (which is also the 52-week low), Sembcorp Marine stock price has rebounded quietly successively to reach a close of $1.67 on 18 Jan 2019, the rise translated into 10.6%, so will Sembcorp Marine stock rise further next?
Looking at the macro factors, there have been recent news which bode well for oil prices and these have helped push Sembcorp Marine stock price to the higher prices we are seeing now. Technically, Sembcorp Marine stock has also cleared the $1.62 resistance and we are looking to see whether Sembcorp Marine stock could clear the $1.69 resistance next.

I believe in the short term, should the narrative be positive for oil prices, Sembcorp Marine stock should continue to do well. The consensus target price for Sembcorp Marine stock is $1.91 (based on SGX webpage here ) which suggests a potential upside of 14.4% (if we choose to believe).

However, with the vagaries of oil prices, I hope investors who are into Sembcorp Marine stock would invest in the stock on a longer term basis. I like to believe that Sembcorp Marine stock may be privatized this year (for more, read my previous post here ) 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.

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