Sembcorp Industries (technical)

Sembcorp Industries: Counter still within its sideways trend in the long-term, trading close to the top range of the channel at $5.40. A close above that level may portend an upside towards its next resistance level at $5.50 followed by $5.60. However, if the counter fails to hold above its support at $5.30 (20MA) and $5.25 (50MA), it may see a near-term downside towards the $5.05 level at the 200 MA.