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Tuesday, 22 May 2018

Sembcorp Marine: 22 May 2018, Tuesday, 4.05pm Singapore Time

Sembcorp Marine: 
22 May 2018, Tuesday, 4.05pm Singapore Time
(Click on Technical Chart above to Expand)

Attached is the Technicals for Sembcorp Marine, a crude oil related cum shipbuilding related stock that is listed in the Singapore SGX. Red circles denote prices being resisted and upmove being rejected. Green circles denote prices being supported and upmove being accepted. Taken together as technical chart interpretation, the entire series of red circled regions and green circled regions show how the stock transits from a long term downtrend into a new bull market of new long term uptrend now. It is ready for more rallies. A rally beyond the high of the entire chart shown is expected.
Reiterate: Highly Bullish (Strong Buy). $2.80 will break up for a move beyond $3.00.


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