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.

Wednesday, October 1, 2008

Semb Marine 300908

Nobody could have, or even expected Sembcorp Marine to hit a low of 2.33 today. The last time Sembcorp Marine even went below the 2.50 level was almost 3 years ago, back in nov 2005.

Sembcorp Marine opened even below the long term downtrend support (low pink), hitting a low of 2.33 briefly, before recovering more than 70cents, and then closing on the 2.99 support (red --). What a dramatic day for Sembcorp Marine !

Where does Sembcorp Marine go from here? For sure, we won't be seeing Sembcorp Marine hitting such lows again.

If Sembcorp Marine manages to stay above the downtrend supports, we could see it trading sideways, with the upside capped by the 3.15 resistance (blue --).

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For thursday :

Support @ 2.99 (red --), 2.92 (low pink), 2.88 (low red), 2.66
Resistance @ 2.99 (red --), 3.15 (blue --), 3.184 (mid red), 3.206 (mid pink), 3.41 (green ...)
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