Sembcorp Marine – [ 5% Upwards Movement Since We Blogged, News Released On 2B Loan]

23rd June, 2019, 4:45 PM

Sembcorp Marine – [ 5% Upwards Movement Since We Blogged, News Released On 2B Loan]Sembcorp Marine 23rd June2019

Chart Source: Poemsview 23rd June2019

Sembcorp Marine made an upwards movement since the time we blogged just last week when it was at $1.49, managing a nice 5% upside.

Some news was released on Friday ( 21st June) after market at 5:39pm which stated that its parent company Sembcorp Industries to provide a $2 Billion subordinated loan facility to Sembcorp Marine to better position for offshore and marine industry recovery.

This piece of news sounds positive to us and it would further strengthen Sembcorp Marine’s position giving them room to navigate through this rough environment.

Chart wise, as drawn last week Sembcorp Marine was supported by the horizontal support and is currently above its 50ema which is positive for us. Staying above this might see a near term upside target to $1.58 and if market remains bullish then $1.64 which is the gap resistance. Remember of your stop loss in every trade.

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Sembcorp Marine – [ On Our Watchlist, Is It On Yours Too? ]

13th June, 2019, 10:08 PM

Sembcorp Marine – [ On Our Watchlist, Is It On Yours Too? ]Sembcorp Marine 13th June 2019

Chart Source: Poemsview 13th June 2019

Sembcorp Marine has recently shown some  rebound tho not a very strong one and has come down to rest the short term uptrend line.

We’re watching to see strength in Sembcorp Marine and holding that support might singal some strength to us and breaking that near term resistance is also strength to us. In addition, Sembcorp Marine managed to close above its 20ema which is another positive sign for us.

Oil is current up 3% due to the oil tankers in the Gulf of Oman sustaining significant fire damage so that might have some knee jerk reaction to oil counters tomorrow.

Want to know more about Sembcorp Marine and how to use a simple indicator  to help guide and enhance your analysis.

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