Finally Sembcorp Industries (SCI) is at its 10 year highs of $5.50, an incredible strong run over the past 2-3 years from a government linked company. It's almost unimaginable that such a blue chip stock, would have a price increase that is only typically seen in a much smaller size growth enterprise
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With price levels above $5, various research houses have been busy evaluating again what should be the real target price of SCI moving forward. I have been steadily taking profit at my long time investment and unfortunately only have a small position left, as I did not purchase much during the distressed price in 2020
While it is true that SCI have divested the cyclical business of Sembcorp Marine (SMM) for the better, such a phenomenal price rise still seems too good to be true. With current hot news on climate change and renewables, SCI does seem to be in a good business to concentrate for the future.
Hmm... should I continue to sell into new price highs, or just trail the yellow moving average MA10, or just wait further for psychological level of $6! 😂 Let me know in your comments below
Personally i would take some profit. The pace of the rise will lose momentum and not sustainable.
ReplyDeleteThanks, personally think so too, as we will never really know when the BB will start to Sell
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