A new recent low again…. Heading towards 1.50? Not spared the sell down…..
Sent: Thursday, January 07, 2016 9:15 AM
Subject: *********** Sembcorp Marine: Breakdown below 1.65 support level. price 1.62, More weakness below 1.60 still....
Subject: *********** Sembcorp Marine: Breakdown below 1.65 support level. price 1.62, More weakness below 1.60 still....
From yesterday’s call, we have indeed seen a breakdown below the 1.65 support level. This can see it trade towards the 1.60 level with range lowered from 1.60 to 1.65 now. A further breakdown below 1.60 can see more selling pressure to a new recent low again as mentioned yesterday with longer term trend clearly still negative for now… Lower buy stop loss again to protect profits for those who had earlier shorted.
Sent: Wednesday, January 06, 2016 9:56 AM
Subject: ************ Sembcorp Marine: Heading back to temp 1.65 support, price 1.665 ..... i hope it holds.... if not......
Subject: ************ Sembcorp Marine: Heading back to temp 1.65 support, price 1.665 ..... i hope it holds.... if not......
Over the past 3 weeks SembCorp Marine has rebounded briefly from the 1.65 support level but bears took control again and there it is, retracing back down to this support…. We may see some support again from here with some buyers stacked there at the moment but note that any clearing with a close below would not be a good sign. We can expect a trade towards 1.60 then 1.50 with this. Longer term moving averages all still pointing lower with no reversal in sign as of now, indicators also negative. Cautious long. CFD SELL to ride downside further can be possible too, lower buy stop loss.
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