𝐌𝐚𝐫𝐤𝐞𝐭 𝐖𝐫𝐚𝐩 (𝐖𝐞𝐞𝐤 𝐞𝐧𝐝𝐞𝐝 𝟐𝟖/𝟖/𝟐𝟔)
After sprinting to a new ATH of 5,774, the $STI(STI.SI) appears to be catching its breath. The last five sessions have seen small, tightly packed candles around the 10MA, looking more like sideways consolidation than aggressive selling. For now, the broader uptrend remains intact. It is trading at 5,694 at time of writing, whisker away from the psychological 5,700 level.
Away from the index, there were still pockets of action.
$Addvalue Tech(A31.SI) finally broke out of its months-long sideways consolidation, hitting $0.170 on Friday morning (trending higher at time of writing). The move came after CLSA initiated coverage with a “high-conviction outperform” call and a $0.27 target, citing growth potential from its space-based IDRS business and the proposed Nasdaq spin-off of Addvalue Solutions. After being stuck in orbit for months, perhaps the stock is finally getting some lift-off. 😃
$Sembcorp Ind(U96.SI) also climbed steadily to a high of $6.16 in the week after subsidiary Sembcorp Green Infra filed a draft prospectus for a potential India IPO, reportedly seeking to raise up to ₹37.5 billion (US$393 million), mainly to repay debt. Technically, the stock is now flirting with its 200MA. A convincing breakout above this level could open the door to further upside.
It has been a much rougher ride for $ULTRAGREEN AI USD(ULG.SI) . After plunging to an all-time low of $0.62, the stock rebounded as high as $0.775 during the week before trading around $0.705 on Friday morning. Its CEO also came out to instil confidence, saying he had been buying shares and intends to increase his personal investment. With the stock badly bruised after the recent sell-off, this may be where short-term traders start watching for trading opportunities, although volatility will likely remain high.
Meanwhile, $Seatrium Ltd(5E2.SI) christened two FPSOs, P-80 and P-82, for Petrobras' Búzios field, with production expected to commence in 2027. It is also exploring potential natural gas collaboration with Petrobras, adding another angle to its growing gas and LNG story. The stock climbed from $2.09 to $2.24 before settling around $2.20 on Friday morning.
Overall, the STI may be taking a breather, but beneath the surface, there is certainly no shortage of individual stock action.
Rgds!
Dan
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