Semb Marine 180408

What a week it has been for Sembcorp Marine !



On Monday 14 apr, Sembcorp Marine nearly broke the uptrend support (low blue) and 3.30 support level (blue --).

Then on 15 apr, it broke the 3.41 resistance level (green --), the downtrend resistance (low red --), and nearly tested the uptrend resistance (mid blue), before closing below the downtrend resistance (low red --).

Sembcorp Marine performed another dramatic rise again the next day, wed 16 apr. It opened above the 2nd downtrend resistance (mid red --), tested the 3rd downtrend resistance (upp red --), before closing below the 3rd downtrend resistance.

Sembcorp left the best to the last day where it broke the 3.88 neckline (pink), and even tested the 4.05 neckline (pink --).

This pattern is almost similar to the dramatic rise back in feb (11 to 18 feb).

We may see Sembcorp Marine run for a abit next week, but the peak would most likely be capped by the 3rd uptrend resistance (upp blue).

If Sembcorp Marine can keep its neck above the 4.05 neckline (pink --) next week, we might see it breaking the uptrend resistance (upp blue).

For monday :

Support @ 3.95 (low red), 3.88 (pink), 3.82 (red ...), 3.77 (upp red --), 3.65 (mid blue), 3.61 (mid red --, light blue --)

Resistance @ 4.05 (upp red, pink --), 4.10 (upp blue), 4.24 (blue ...)

Good Luck !!