Chart Source: Poemsview 23rd Aug 2018
Sembcorp Marine had a relative good closing on Tuesday which caught our attention.
Volume started to come in and it’s the highest for the last two weeks. So it might warrant some attention.
There are 3 reasons why Sembcorp Marine is in our watchlist now.
- It has broken above its short term downtrend line. Staying above this might see it move higher in the coming days.
- It has also broken above its 5 days simple moving average. The last time that happened was almost a month back.
- Lastly, Sembcorp Marine is currently vying with Daewoo Shipbuilding for a 2 billion Chevron project. More can be read HERE. Imagine what if Sembcorp Marine wins it.
The risk reward for Sembcorp Marine is a good one for us therefore with all the other reasons. Sembcorp Marine is in our watchlist.
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