On 1 Aug Monday, I sent out a live trading idea to my members regarding sembcorp Ind at ard $2.94-2.95 at ard 10:34AM in the morning. Within the day, price did not drop to my entry level, but price drop to 2.94-2.95 the next day. After that, price kept going up and has reached $3.18 on 8 Aug Monday, or 7.8% potential profit for a high price bluechip stock, in just 6 trading days.
Below is the screen shot of my live trading idea for sembcorp Ind
Congrats to members who caught this opportunity according to my live trading signals! Now many are asking whether the price can go up further and whether can buy now. Below is my view:
According to my way of analysis, Sembcorp ind is in an uptrend and price may go up further. So if you want to how long position for long term, I won’t strongly object it.
But if you want to jump in at current price ard 3.18, I will say it is chasing the market, a typical retailer behavior and very risky for sembcorp ind at the moment.
In addition, it is important to take note that after going up 7.8% in just 1 week’s time, sembcorp ind is overbought for now and there is a resistance ahead at ard 3.20. Besides, overnight US mkt was weak, I feel sembcorp ind is likely to have some pull back for short term because of market weakness. Therefore if you are a short term trader and want to quickly lock in profit, it is advisable to consider closing the position to take profit if price start to turn weak.
While even if you want to hold the share for long term, I also will suggest to take partial profit and only left 1/2 or lesser position remain open.
According to my way of analysis, Sembcorp ind is in an uptrend and price may go up further. So if you want to how long position for long term, I won’t strongly object it.
But if you want to jump in at current price ard 3.18, I will say it is chasing the market, a typical retailer behavior and very risky for sembcorp ind at the moment.
In addition, it is important to take note that after going up 7.8% in just 1 week’s time, sembcorp ind is overbought for now and there is a resistance ahead at ard 3.20. Besides, overnight US mkt was weak, I feel sembcorp ind is likely to have some pull back for short term because of market weakness. Therefore if you are a short term trader and want to quickly lock in profit, it is advisable to consider closing the position to take profit if price start to turn weak.
While even if you want to hold the share for long term, I also will suggest to take partial profit and only left 1/2 or lesser position remain open.
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