$Sembcorp Ind(U96.SI) is a Singapore-listed energy and urban development company, with operations spanning power generation, renewable energy, and integrated urban solutions across Asia and beyond.
Daily Chart: After a sharp selldown from the mid-2024 highs (~SGD 7.60), price consolidated within a descending channel for several months, forming a series of lower highs and lower lows. Price then broke out of the channel, rallied to a higher high of ~SGD 7.00 in early 2026, before pulling back sharply.
What is interesting on the chart now is that price has come back down to retest the upper boundary of the descending channel — the same resistance line it broke out from earlier. This is a common behaviour where a broken resistance is revisited as support. Price is currently at SGD 6.23, sitting right at this retest zone.
The higher high at SGD 7.00 versus the previous high at SGD 6.60 remains a positive structural development on the chart. Whether this retest holds is the key thing to observe, and the same bullish price action signals apply
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