SEMBCORP INDLong
Semcorp Industry, not really a strong buy
Semcorp Industry got its happy ending after divorce from its toxic marriage with Sembcorp Marine. Price has been up ever since. In fact, we had a previous buy call back in April 2021. It hits our TP level of 2.20 back then, and it is now trying to re-test the resistance at 2.30 again.
Whether it can break the resistance or not, we cannot say. However, as long as the price is maintained above the support level of 1.63, Sembcorp Ind remains bullish. It could consolidate for months or years before it can break out, nobody knows. Hence holding power is important because there is no analysis that can predict time. There is also another major resistance at the 2.50 level, which makes it less attractive to other available options out there.
On the bright side, it does have a dividend yield of 3.0% at its current price. So you're not really "losing" for holding if the price goes sideway for a prolonged period
Verdict: If you wish to buy, make sure you can hold. I, personally will look for better options.
Whether it can break the resistance or not, we cannot say. However, as long as the price is maintained above the support level of 1.63, Sembcorp Ind remains bullish. It could consolidate for months or years before it can break out, nobody knows. Hence holding power is important because there is no analysis that can predict time. There is also another major resistance at the 2.50 level, which makes it less attractive to other available options out there.
On the bright side, it does have a dividend yield of 3.0% at its current price. So you're not really "losing" for holding if the price goes sideway for a prolonged period
Verdict: If you wish to buy, make sure you can hold. I, personally will look for better options.
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