On Tuesday, Sembmar re-test the support at $3.01 and closed at $3.07 with HIGH volume of 18.18 million shares traded.
A long upper shadow occurred. This is typically a bearish signal (particularly when it occurs near a high price level, at resistance level, or when the security is overbought).
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 bearish as RSI trend downwards.
Important Resistance of Sembmar: $3.45
Immediate Support of Sembmar: $3.01
Currently prices are well below the 20/50/100/200 days MA.
For the past 3 trading sessions, SembMar has been under heavy selling pressure caused by the plunge in oil prices.
The immediate support at $3.01/$3 is expected to be strong.
However we do not advise to catch the ...
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