Sembcorp Marine

smm

 

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Following up from our previous post of sembcorp marine , it did attempt to break the downtrend line of 1.48 and even its 200 days moving average but failed to stay above and had some retracement. But we’re still looking at it as on the weekly chart as it has broken above the downtrend line on the weekly chart.

Also, Opec and non opec agree on first global oil pact since 2001. (http://www.wsj.com/articles/opec-russia-upbeat-about-securing-oil-output-deal-as-meeting-begins-1481362580). This could spur oil prices up and we might see sembcorp marine moving up too. Our entry might be 1.485 and a stop loss of 1.42. Our first target 1.515 then 1.59

Yours

Humbly

 

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