On Friday, Sembmar trend downwards and closed at $3.78 with LOW volume of 9.35 million shares traded.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Both RSI & MACD are flat as RSI trend sideways.

Important Resistance of Sembmar: $4.15

Immediate Support of Sembmar: $3.70

Currently prices are well below the 20/50/100/200 days MA.

Recently, oil-rig companies have been under heavy corrections due to poor economics outlook.

Till now, we do not see any signs of rebound as prices continue to hang onto the critical support at $3.70.

More selling will be trigger once $3.70 support breached with high volume.

Can consider to buy at $3.70 support but do cut loss once this support give way with high volume.

On Friday, Cosco re-test ...