Thursday, December 10, 2015

Sembcorp Marine: Breakdown Spotted This Morning further !!!

Now at day low 1.765…. towards 1.60 as mentioned? Weakness indeed seen since SELL call in August, no stopping it….

Sent: Thursday, December 10, 2015 9:11 AM
Subject: ************* Sembcorp Marine: New low below 1.80, CFD SELL, trend still negative... price 1.785
Following up from previous sell call in August, we have indeed seen it break the 2.00 psychological level last month followed by it breaking the temp 1.80 support today on strong volume to find a new recent low again. Trend still looks weak with all moving averages pointing lower and no sign of reversal as of yet. Stochastic and RSI both looks oversold but selling pressure can still continue with oil prices hitting new lows. MACD CLEARLY negative with more downside to go. As long as 1.80 is a resistance now, we can expect a trade lower towards 1.60 then 1.50 eventually. CFD SELL as always to ride the downside and lower your buy stop loss along the way….

Sent: Thursday, August 20, 2015 9:38 AM
Subject: ******* Sembcorp Marine: New low below 2.40, more downside beneath still.... cautious
As mentioned in previous sell call, Sembcorp Marine has traded lower and hit out target at 2.40. Today we have seen it crossed below this 2.40 support level further to a new recent low on strong selling volume. Note that staying below now can see it head to 2.00 eventually with all 3 moving averages pointing downwards still and technical indicators all showing no sign of recovery. Has been hit along with the rest of the oil and gas counters with oil prices still under pressure. CFD SELL positions can be used to ride the downside further as long as 2.40 – 2.50 remains as the immediate resistance for now.

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