Monday, 23 July 2018
Sembcorp Marine: 23 July 2018, Monday, 11.50am Singapore Time
23 July 2018, Monday, 11.50am Singapore Time
(Click on Technical Chart above to Expand)
Attached above is the Technicals for Sembcorp Marine. It is currently down -5.102% at $1.860 and using bad news to do a final price action backtest confirmation of its new spring (transition from winter to spring for the industry). Following the massive cup and handle bullish accumulation and its violent breakout, it is currently forming a minor double bottom in purple (again, using fear for chalking up accumulation-buys). This purple trajectory is currently backtesting the resistance-turned-support band in black. The volume flow remains a highly bull market volume flow. I expect Sembcorp Marine to break out beyond $3.00 in 2019.