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Monthly chart shows a break down from its trend line. 61.8% fibo support at 4.53. Subsequent support levels are shown accordingly. 52 weeks low coincidentally also at 4.53.
I posted an article a few weeks back (here) on my view on a few filtered out blue chips. The banks have since surged dramatically, leaving the offshore counters(KepCorp and Sembcorp) behind. Market seems to be treating them harshly with the plummeting of oil prices. Lets take a look at Sembcorp's latest quarter result so that you can judge for yourself.
Collated using Shareinvestor |
Company has been doing share buy backs since mid October. What you see above is the collated income statement for five quarters back to back. Revenue broke the 3bil mark for this latest quarter. Consistent increments to profit after tax on a quarterly basis. I don't see anything striking here.
A very good read on SCI, keep it up man, thanks ^^
ReplyDeleteHi Felix Leong,
DeleteI am glad that you found it informative. Cheers :)
Nice post. Like ur concise Technical analysis.
ReplyDeleteOil price drop triggered repricing. This counter is mainly dragged by its holding in SMM. Do not understand why so many retail investors jump in so early while institutionals are still selling. It's utility business not rosy as well.
Institutional are selling? Are you sure? Or someone is accumulating?
DeleteGood blog u have. Can't believe I just encounter. Have made link to mine. Pls feel free to comment.
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