I believe the higher revenue figures reported by Sembcorp Marine, coupled with the recent rally in oil prices have boosted Sembcorp Marine stock price. A “doji” was formed yesterday while Sembcorp stock went into “Overbought” region and thus in the near term, there may be some form of profit taking.
But on a longer term, I believe there is potential to be unlocked from Sembcorp Marine stock as I believe the company’s business is improving, oil prices should continue to head gradually higher and that the company should still be a potential privatization candidate in a potential consolidation of energy and offshore businesses in Singapore. 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.
