More downside ahead still? What levels are we looking at now….
Attend a FREE Workshop to see Exactly when to SELL AND BUY, how do we look at any trade? ….. Click here to Register!
We have seen Sembcorp holding above the 2.80 psychological level for more than 2 months with the longer term trend still negative. Yesterday, we have seen a breakdown below 2.80 with it staying below today further on strong volume. With 2.80 as the resistance now, we can see the downtrend returning in the short term again with target to 2.60 then 2.20 which was previous support. Cautious long position as long as it is below 2.80 in the next few days. MACD back below zero mark too.