Sembcorp Marine due for a strong rebound?
Sembcorp Marine has been dropping from a high of $2.81 in Feb. However we feel that this time, there might be a substantial rebound coming.
On 5th March, Sem Marine closed at 1.9 with a high volume. It seemed to have bounce off the 200MA after coming close to it.
On 6th March, Sem Marine formed an inside bar.
Inside Bar is usually used to describe a smaller candle with the high lower than the previous day candle (aka the Mother Bar) and the low higher than the previous day candle.
Below are some example, courtesy of priceaction.com.
Inside Bars can be used to determine a trend reversal if the candles in the coming days managed to close above the high of the Mother Bar,
In Sem Marine case, today 7th March, Sem Marine manged to hit a high of $2.11 and retraced to close at $2.04. Based on 7th March candle stick, we are pleased that the reversal is in place and we are anticipating a trend reversal when Sem Marine can close above $2.04.
We are vested in Sem Marine.
Trades for 6th March:
Trades for 7th March:
First tp : 2.14, Second tp : 2.25
Cut if it breaks $2. Please do your own due diligence. Thank you.
Interested in joining our community and receive live Satki calls, please refer to this
Disclaimer:The contents of this website are provided to you for information only and should not be used as a basis for making any specific investment, business or commercial decision. These pages should not be construed as an offer or solicitation for the subscription, purchase or sale of the securities, and specifically funds or any investment products, mentioned herein, or, in any jurisdiction to any person to whom it is unlawful to make such an invitation or solicitation in such jurisdiction
