Sheng Siong's stock soared 3.25% during Thursday's intraday trading session, driven by technical analysis indicating a potential breakout from a consolidation pattern.

According to market analysis, Sheng Siong's share price could break out of a 'cup and handle' pattern to the upside after consolidating sideways since mid-November 2025. The stock has formed a "higher low build-up range" on technical charts between S$2.69 and S$2.77 since mid-January 2026, with the moving average convergence divergence indicator holding above the zero line during the current consolidation phase, supporting a bullish continuation view.

Technical analysts note that if the share price breaks above resistance at S$2.77, it's likely to resume its uptrend and potentially reach S$2.99, providing the catalyst for the stock's strong intraday performance.