Sembcorp Industries’ share price - now at $2.16 - bounced off its 50-day moving average at $2.09 on June 17. At the same time, short term indicators have bounced their equilibrium lines suggesting the likelihood of an upmove. Resistance/ breakout stays at the twice-tested $2.21 level. Volume expanded on June 18, but will need to continuously expand if a successful break above $2.21 is to materialise. In this event, an upside of $2.52 is indicated.

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