Capitaland has formed a Triple Bottoms. The stock price is currently testing the down trend channel resistance and also the neckline of the Triple Bottoms. Breakout from this Triple Bottoms will stop the down trend and the price target is $2.80. The next resistance after $2.80 is about $3.00, the 200D MA resistance.
SembCorp is not able to get past the $4.00 resistance (also the 61.8% Fibonacci Retracement Level) and looks like the completion of Elliott Wave 1, 2, 3, 4, 5 & A-B-C (marked in blue color).
Reversely, it looks like another Elliott Wave (downward wave – marked in red) in formation starting wave 1 at $5.50. If this is true, wave 4 may have been completed at $4.00 and wave 5 may start now and will reach $3.077 as minimum target. For this scenario to happen, wave 5 must break the recent low at about $3.20.
See previous analysis of SembCorp Industries capped at $4.00 here.
SembMarine stock price is reversing after a Bearish Kicker candlestick pattern has been formed at 61.8% Fibonacci Resistance. Immediate support is at $3.65, followed by 20D MA at about $3.50 and $3.365 (50% FR).
