SembCorp Marine is still looking rather weak and may likely breakdown to retest the recent low of 1.56. Breaking down of this level with high volume that may weaken the share price further and may likely slide further down towards 1.46 with extension to 1.36 .
Not a call to buy or sell.
Trade/invest base on your own decision.
24th Nov 2018
Looks rather bearish with a wide bearish bar. Broken down the previous low of $1.71 and closed lower at 1.61 on 26th Oct 2018, Coupled with high volume, looks like fund may have exited ..
It has since hovering around the price range of 1.56 to 1.64, looks rather weak as the candlestick bar is getting smaller.
Long term down trend mode. Also RSI is showing Bearish divergence, it may likely continue to go lower.
With Oil price tank /
tumbles more than 7% to $50.42, now down more than 30% in 7 weeks
quote : cnbc.com
I think short term wise, it may breakdown the recent low of 1.56 and slide further down towards 1.50 with extension to 1.40 and below.
Not a call to buy or sell.
Pls dyodd.
Trade/invest base on your own decision.
Sembcorp Marine Ltd, an investment holding company, provides offshore and marine engineering solutions worldwide. The company engages in the turnkey design, engineering, procurement, construction, and commissioning of offshore newbuilding and conversions, FSOs, FPSOs, FDPSOs, FPUs, MOPUs, gas terminals, FLNGs, FSRUs, jack-ups, semi-submersibles, drill ships, SSP solutions, TLPs, and SPARs. It also engages in the repair, refurbishment, retrofitting, life-extension, upgrading, and conversion of vessels, marine and offshore structures, LNG and LPG gas carriers, cruise ships, ferries, mega-yachts, floating production vessels, MODUs, tankers, containers, and cargo ships, as well as offers jumboization and dejumboization solutions. In addition, the company offers afloat and emergency repair, underwater cleaning and repair, main engine maintenance and repair, steel and pipe work, electrical and instrumentation repair, mechanical and motor rewind repair, tank cleaning, sludge and oily waste disposal, staging work, hydro jetting and hydro/vacuum blasting, riding crew and voyage repair, specialized workshop repair and reconditioning, vessel towage and port clearance arrangement, specialists service and navigation, automation, safety, and fire protection services. Further, it offers offshore platform solutions, such as integrated process; production, riser, and drilling; wellhead, power generation, manifold, and accommodation platforms; and wind-farm substations, as well as topside modules fabrication, installation, and integration. Additionally, it designs and builds sophisticated, specialized, gas value chain, ferry, RoPax, cruise, renewable energy and offshore support, naval support and security, and research and scientific survey vessels. The company was formerly known as Jurong Shipyard Ltd and changed its name to Sembcorp Marine Ltd in 2000. The company was founded in 1963 and is headquartered in Singapore. Sembcorp Marine Ltd. is a subsidiary of Sembcorp Industries Ltd.
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