Tuesday, September 27, 2016

Sembcorp Ind: Approaching next support at 2.50, hope it holds, if not.... price 2.53

From previous calls 2 weeks back, we have indeed seen more selling in Sembcorp Ind with it finding a new low at 2.51 yesterday…..

A slight rebound today....

Still a short term negative below 2.55 – 2.56 now which would be a lower resistance....

Any move below 2.50 would not be good and can see more weakness....


No idea if it can head towards our 2.20 target as of now, we shall see if 2.50 holds......

Lower buy stop loss to protect profits if locked in...   :)

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Recent Emails:

Sent: Wednesday, September 14, 2016 10:30 AM
Subject: ************ Sembcorp Ind: Indeed attempting a move below 2.60.... price 2.59
Following up from yesterday’s call, we have indeed seen a sell down below the 2.60 critical support level with a low at 2.58 today. This may not be a good signal and as long as 2.60 remains as a resistance now, we can still see more weakness towards 2.40 as mentioned yesterday. Shall see. MACD also pulling lower on this move.

Sent: Tuesday, September 13, 2016 5:01 PM
Subject: ************** Sembcorp Ind: Potential breakdown of support.... price 2.63
We have seen a move below the 2.65 – 2.66 support today on market weakness and Sembcorp Ind looks set to test the previous support at 2.60. Any breakdown below 2.60 can see more weakness toward 2.40 then 2.20 with sellers wrestling back control. A specific price action can see more short positions to ride the downside further. Downtrend intact in the longer term with it trading consistently below the 200 day moving average line and also the channel resistance line. A bearish descending triangle pattern spotted, in watchlist.

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