Sembcorp Industries – [ Continues To Slide Down After Results, Any End In Sight? ]
Chart Source: Poemsview 12th Nov 2018
Sembcorp Industries continued to slide downwards after its results as the results wasn’t that good. You can read here for more. Net profit was down and the market wasn’t nice to it.
Sembcorp Industries hit the downtrend line we drew, got resisted and slammed down after. It came down and broke its uptrend line that has been supporting it for months. As from previous post on Sembcorp Industries : “Currently Sembcorp Industries is sitting on some support at the horizontal and uptrend line. A break below that and staying below it might signal more downside.”
Indeed it broke the support line of $2.76 and came down to a low of $2.62. Another 5% downside since we first alerted for a short at $2.87! Will Sembcorp Industries continue to fall?
We’re placing our support at $2.58 – $2.60 for now. Watching it closely.
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