Semb Marine 090409

After trading below the 2 uptrend supports (mid green, mid blue) yesterday, Sembcorp Marine recovered and even managed to close above the short-term uptrend resistance (upp blue). It also closed right on the 2.15 neckline (pink ...).

As you can see from the chart, the 2.15 neckline could prove a tough nut to crack. So we could see Sembcorp Marine trade sideways between the 2.04 support (blue ...) and 2.15 neckline (pink ...) as it builds a base.

If Sembcorp Marine can maintain trading within the short-term uptrend channel (blue), we could see it test the 2.15 neckline probably towards the end of the week.

If the 2.04 support breaks, we could see Sembcorp Marine revisit the 1.93 support (blue --), which is where the short-term uptrend support (low blue) meets the long term downtrend support (mid red).


For monday :

Support @ 2.15 (pink ...), 2.10 (mid blue), 2.07 (mid green), 2.04 (blue ...), 2.00 (red ...), 1.97 (mid red, red --), 1.93 (blue --), 1.90 (pink --), 1.87 (lightblue --), 1.86 (low blue, low red)

Resistance @ 2.15 (pink ...), 2.16 (upp blue, upp red), 2.17 (upp green), 2.25 (green ...), 2.35 (green --)