REPOST – NOW AT 3.94, still a sell on weak market……
Sent: Wednesday, January 29, 2014 2:50 PM
Subject: ********* Downside on breakdown: Semb Mar. Share price 4.07. ( Needs to stay above 4.00 now or can head lower)
Semb Mar has been trading above the 4.10 CRITICAL support level which has held for more than 2 years since January 2012. For the past few days we have seen it test this support again on market weakness and seems like it is not holding as well as it should be like the rest of the time over the 2 years. Today’s low at 4.07 currently and yesterday low at 4.06 would probably set a temp support before 4.00 psychological support level. A break below 4.00 would be a confirmation and target can be to 3.65 – 3.70 range. Aggressive traders can consider short positions to ride the downside if it does not climb back up above 4.10. Those looking to accumulate again for long can enter below the 3.75 level if it does dip.
Stop loss 4.13 for CFD Short positions
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