Semb Marine 311008

Sembcorp Marine managed to recover what it has lost when it hit a low of 1.15 on 28 oct. It managed to close just above the 1.76 neckline (blue ...) and long term downtrend support (low red).

However, Sembcorp Marine still could not break the 1.88 high, the opening price of 16 oct, from where it collapsed.

If Sembcorp Marine opens above the 1.76 neckline on monday, there's a great chance we might see it test the 1.88 high again, and close the gap to 1.95 (10 oct low), which incidentally, is also the downtrend resistance (mid pink).

However, if Sembcorp Marine opens below the 1.76 neckline, we could see it revisit the 1.59 support (green --) or even the 1.40 support (green ...).



For monday :

Support @ 1.76 (low red, blue ...), 1.69 (pink ...), 1.65 (low blue, low pink), 1.59 (mid black, green --), 1.48 (blue --), 1.40 (green ...)

Resistance @ 1.954 (mid pink), 1.99 (upp black), 2.03 (upp blue, pink --), 2.05 (mid red), 2.25 (red --)