Wednesday, February 17, 2016

Sembcorp Marine: Has managed to rebound back to 1.60 and even a break above, more upside?

Now at 1.64, where can be our next target..... 1.85 maybe ?

Sent: Tuesday, 16 February, 2016 9:23 AM
Subject: **************** Sembcorp Marine: Consolidation in a downtrend, still weak below 1.50 for now... price 1.425
Sembcorp Marine has been consolidating above the 1.40 support for more than a week which seems to be holding well, but still unable to cross back above the 1.50 then 1.60 key resistance level for now. Selling pressure seen as soon as it heads towards the 1.50 psychological resistance with longer term moving averages still pointing lower. Any further breakdown below 1.40 again can pave the way to 1.30 which was the low seen last month. CFD Sell can be used to ride the downside back down on any temp rebound to near resistance amidst downtrend or a breakdown below 1.40 support. Those looking to trade the consolidation range can scale some long near 1.40 for a technical rebound like we have seen over the past 2 weeks, but strict stop loss at 1.385.

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