On 9 Oct 2017, Sembcorp Marine stock “gapped up” by a good 4.6% to close the trading day at $1.815. Thereafter the stock seemed to consolidate, though the price could not break the $1.895 intra-day high. The stock is currently trading at $1.86 with a support at $1.78. There have been positive sentiments about this stock ever since the sale of its assets and analysts flocking to re-rate the stock once again.
I can say that Sembcorp Marine stock is attracting attention, moving past the days when it was a laggard due to the macro oil outlook. But make no mistake, Sembcorp Marinme stock is still a laggard compared to its heydays; I still remember the days when this stock is trading at over $5 per share.
Will Sembcorp Marine stock head back to those $5 per share day? I don’t think so. My take ......