Bukit Sembawang: a 'no BS' target of S$4.08 to 4.50!

 In early July, I made a tough decision to cash out of my investment in OCBC takeover target Great Eastern & forgo any future possibilities of a significantly raised buyout price & immediately shifted the funds into long-coveted Bukit Sembawang, a conservative cash-rich SGX-listed property developer with a Great Eastern mutual fund among its major shareholders, at a price of S$3.5133, with the intention of replacing the dividend missed by selling the former's shares.

This gamble proved prescient in hindsight as the stock rose 3.4% yesterday & based on a possible-but-not-definite giant pennant, could foreshadow a rise to its 2016 low of just above S$4, predicated on foreign funds shifting from overvalued US markets to safe-haven jurisdictions as the risk-free 5% money market rate looks likely to come down. 

Technically I also take comfort in the RSI divergence that predicted the lows in 2011, 2016 and 2020, plus that indicator is also rising above 50 which could strengthen the case for a bullish phase of a year or longer, providing wind in the sails towards the abovementioned target.