$Sheng Siong(OV8.SG)

Defensive Giant Hits All-Time High – More Upside Ahead?🤔

Sheng Siong continues to stand out as one of Singapore’s best defensive picks. It recently broke past S$3.20 to trade around S$3.28, hitting a fresh record high after a steady multi-month climb.

🔷Technical Snapshot

Bullish and Not Overstretched

🟢 Strong uptrend: Price holds firmly above the 20‑day Bollinger midline at S$3.24, with buyers in control

🟢 Healthy momentum: RSI ~59 – well below overbought levels, so there’s still room to run

🟢 Robust buying: Hugging the upper Bollinger Band signals consistent institutional support

🟢Watch levels: S$3.20–3.24 is immediate support; stronger floor at S$3.05–3.10. Up nearly 100% from 2024 lows, so pullbacks are normal.

💰 Fundamental Snapshots:

Solid Growth Behind the Rally

1Q FY2026 results back the move:

• Revenue +12.4% YoY to S$452.8M

Net profit +12.6% to S$43.4M

• Same‑store sales +3.5%

Gross margin rose to 31.0%

• Added 3 new stores; backed by population growth, HDB expansion, strong cash flow and steady dividends.

⚠️ Key Watchout

Valuation now trades at a premium to its historical average – much of Q1’s strong performance may already be priced in.

🔷The Verdict

For holders: Trend stays bullish; keep an eye on S$3.20 support.

For new buyers: Don’t chase at all‑time highs. It does not make sense to chase the high expecting it go higher. Wait for a decent pullback or clearer earnings confirmation.

Next catalyst: 2Q FY2026 results due 23 July 2026 . It will confirm if momentum lasts.🙂

Not financial advice. Do your DD.