On Thursday, Sembmar re-test the support at $4.94 and closed at $4.96 with HIGH volume of 6.58 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.
RSI & MACD are flat as RSI trend sideways.
Important Resistance of Sembmar: $5.05
Immediate Support of Sembmar: $4.94
Currently prices are supported by 20/50 days MA at $4.94
Since 4/July, prices have been consolidating between the key support at $4.94 and key resistance at $5.05. It is a sideway trend.
The resistance at $5.05 is expected to be strong.
We do not suggest buying now since the rally has lost its strength and began to go into sideways. In fact, shorting at $5.05 might be a better option.
Stock Chart: …