Semb Marine 220808

Sembcorp Marine traded more or less sideways for the last 2 weeks. Today, it broke the long term downtrend resistance (mid pink), downtrend resistance (mid red), and also the 3.86 resistance (green ...), closing just above the uptrend resistance (upp blue).

Sembcorp Marine also came very close to testing the 3.94 resistance (pink --). Whether Sembcorp Marine can break this resistance would depend very much if it can continue to trade at least above the 3.86 support (green ...).

If Sembcorp Marine manages to stay above the 3.86 support, we may be looking at some action next week, when the downtrend resistance (upp red) meets the uptrend resistance (upp blue) at around 3.93, just below the 3.94 resistance (pink --).

Otherwise, we could be looking at Sembcorp Marine trading between the 3.86 resistance (if Sembcorp Marine trades below it) and 3.75 support (red ...).



For monday :

Support @ 3.90 (upp blue), 3.86 (green ...), 3.83 (mid pink), 3.82 (mid red), 3.75 (red ...), 3.72 (low red), 3.70 (low blue)

Resistance @ 3.94 (pink --), 3.99 (upp red), 4.00 (blue ...), 4.05, 4.12 (green --)