Disclaimer

Disclaimer:-Please note that all such analysis is provided by way of information only. All of the information was and should be taken as having been prepared for the purpose of reference only and that none were made with regard to any specific investment objective, financial situation or the needs of any particular person who may receive the analysis. Any recommendation or advice that may be expressed in or inferred from such analysis therefore does not take into account and may not be suitable for your investment objective.

Saturday, July 12, 2008

Semb Marine 110708

Sembcorp Marine has been on the rise since feb, and has now formed a Head & Shoulders formation, with peaks on 21 apr, 2 jun and 8 jul. Sembcorp Marine is now trading around the 1st neckline of 4.22 (red --).

If Sembcorp Marine breaks the 4.22 neckline (red --), we could see it retreating to the 2nd neckline of 4.12 (green --). And if that neckline breaks as well, we could see Sembcorp Marine retreating all the way to the 3.86 support (green ...).

However, if Sembcorp Marine maintains trading above the 4.22 neckline, we could see it consolidating for a period before attempting to break the 4.30 resistance (blue --). And if that happens, we could see Sembcorp Marine hitting the highs of 2 jun.

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For monday :

Support @ 4.22 (blue --), 4.18 (mid blue), 4.14 (low red), 4.12 (green --), 4.02 (low pink)
Resistance @ 4.29 (mid pink, upp red), 4.30 (blue --), 4.40 (pink ...), 4.43 (upp blue)
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