Tuesday, May 10, 2016

Sembcorp Ind: A low at 2.65 seen today after sell call issued last Thursday morning.........

More downside ahead still?  What levels are we looking at now….

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Sent: Thursday, May 05, 2016 9:46 AM
Subject: ************* Sembcorp Ind: A move below 2.80 support can put and end to consolidation.... price 2.78
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.

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