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, October 4, 2008

Semb Marine 031008

Sembcorp Marine opened below the 2 downtrend supports (low red, mid pink) today. It also came close to testing the big volume support (2.66 on 30 sep), before closing above the downtrend support (low black).

We could see Sembcorp Marine continue to trade within the downtrend channel, or at best, sideways, and hitting the 2.64 level (low pink meets low black) before there is a rebound.

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For monday :

Support @ 2.68 (low black), 2.66, 2.65 (low pink)
Resistance @ 2.86 (low red), 2.91 (mid pink), 2.94 (mid black), 2.99 (red --), 3.10 (upp black)
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