SembMarine seems to be consolidating between the price of $1.30 to $1.60.
This counter seems more like a hit and run strategy . We may not be able to know when the actual offer will be announced by SMM . If without this possibility I think the current price may be trading below $1.30 due to current oil price hovering around $30 per barrel + over supply of oil.
It is rather difficult to trade at this moment due to the share price are being trapped in a consolidation mode.
It will be good to stay side line until we have further news about the concrete offer coming in or when the oil price is showing any sign of stabilizing or heading higher.
(trade base on your own decision)
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