SembCorp Marine is taking a breather after the recent sharp fall. The trading range is getting tigher between $3.90 (20D MA Resistance & 61.8% FR Resistance)) and $3.65 (past 3 low recently). This $3.65 is very significant resistance turned support. Previous reisstance between June to Oct 2010 period. Breaking this $3.65 support will send SembMar to next immediate support of $3.365 (50% Gann Level).
SGX is currently trading within the down trend channel. A tough resistance is seen at $7.06 which is the support turned resistance level. It is expected SGX to continue the down trend and get near to the down trend support or $6.16 which is the 38.2% Fibonacci Support Level.
STX OSV has a massive sell down on last trading day. The stock is currently testing the uptrend channel support and the 61.8% FR support at about $1.216. This uptrend support is also the neckline of a skewed Head and Shoulders chart patten (can you see it?). Breaking this neckline support will send STX OSV to breakdown target price of about $1.00.
