Semb Marine 130608

After hitting a high of 4.73 on 1 jun, Sembcorp Marine has softened considerably, breaking the 4.40 support (pink ...) and 4.30 support (blue --). Sembcorp Marine almost tested the 4.12 support (green --) on 12 jun, however it managed to rebound slightly after testing the long term downtrend support (low pink).

We could see some consolidation for Sembcorp Marine next week, with the upside limited by the 4.30 resistance (blue --) and supported by the uptrend support (mid blue) and 4.12 support (green --).

If Sembcorp Marine breaks the 4.12 support (green --), the next support based on volume distribution, would be around the 3.99 level (blue ...).



For monday :

Support @ 4.20 (low light blue), 4.167 (mid blue), 4.15 (low pink), 4.12 (green --), 3.99 (blue ...)
Resistance @ 4.30 (blue --), 4.33 (mid light blue), 4.37 (mid pink), 4.40 (pink ...), 4.45 (upp blue)

Hope you find my analysis helpful. Thank you !!