Semb Marine 200608

Sembcorp Marine's position has become more and more precarious. As you can see from the chart, Sembcorp Marine closed right on many support trendlines. Initially, with the forming of a Doji on 18 jun, coupled with the downtrend prior to the Doji, there was hope of a trend reversal. However, the next day (19 jun) saw Sembcorp Marine breaking the 4.22 support (red --), dashing any hope of a reversal.

Going by recent market sentiments, we could see a high chance Sembcorp Marine breaking the 4.12 support (green --). If that happens, we could see Sembcorp Marine testing the downtrend support (low red, low pink).

Next support based on volume is around the 4.00 level (blue ...).



For monday :

Support @ 4.12 (green --), 4.11 (mid pink), 4.02 (low red, low pink), 4.00 (blue ...)
Resistance @ 4.13 (mid blue, low light blue), 4.18 (upp red), 4.22 (red --), 4.30 (upp blue, blue --)

Hope you find my analysis helpful. Thank you !!