Semb Marine 270309

A day after my analysis on 20 mar, Sembcorp Marine burst into life and went on a blistering run, breaking several key resistances along the way! It tested the key 1.93 resistance (blue ...) today but closed 1.90 neckline (pink --).

We could see Sembcorp Marine trade sideways due to inevitable profit-taking. We could see it trade between the 1.87 support (lightblue --) and 1.93 resistance (blue ...). We could also see Sembcorp Marine consolidate around the 1.87 level, which is where the long term downtrend resistance (upp red) meets the uptrend support (low blue) somewhere towards the end of next week.

If Sembcorp Marine can trade above the uptrend support (low blue), there's a good chance we might see it attempt to test and break the 1.93 resistance (blue ...).

However, if Sembcorp Marine breaks the 1.82 support (lightblue ...), we could see it revisit the 1.74 support (red ...), or even the 1.69 support (blue --).


For monday :

Support @ 1.90 (pink --), 1.87 (lightblue --), 1.84 (low blue), 1.82 (lightblue ...), 1.79 (mid red), 1.78 (red --), 1.77 (upp green), 1.74 (red ...), 1.69 (blue --)

Resistance @ 1.93 (upp red, blue ...), 1.94 (mid blue), 1.97 (upp blue)