Following up from previous SELL call made last Tuesday, 30th July 2013. Semb Marine has broken the immediate support at 4.45 and closed lower last Friday at 4.43.Today we have seen it test the 4.40 and dipped below this psychological level. At current levels, you can see that it has clearly broken below the 20 DAY MA (Green line) which it has stayed above for more than a month. Downside possible to around the 4.20 level if the 4.45 remains as new resistance level. Traders who would like to accumulate on dips can consider buying near support from 4.20 level or below if it does dip to that level as mentioned in previous call.
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