Sembcorp Marine Stock Code S51.SGX
Outlook
Price has been hanging at the lower edge of the cloud for the past few days and it has been unable to move above the overhead resistance at $1.28. The trend is bearish as price is below the cloud. Both Conversion and Base lines had a bearish crossover as well and the trend of both these 2 lines is still bearish. As long as price is unable to move above the resistance at $1.28, price is likely to decline down to $1.15. MACD is still bearish with both its line below the zero line.
Strategy
$1.27 Short Sell
$1.16 Price Target
$1.32 Risk Management Stop
3 weeks Trade Duration
CSE Global Stock Code 544.SGX
Outlook
Since the low in late August 2019, price has been on a rally to a high of $0.585 on 18 November and has been consolidating since then. During the correction, price has been supported at $0.52 and this support looks like it will be able to support price for the moment. The cloud support is also nearby, coming in at $0.51. MACD is bullish and could be turning up again above the zero line, which is a sign of a bullish trend. As long as the consolidation stays above $0.50, we think price should be able to move higher to test its previous high of $0.585.
Strategy
$0.520 Buy
$0.585 Price Target
$0.490 Risk Management Stop
3 weeks Trade Duration
