On Tuesday, Sembmar re-test the support at $4.22 and closed at $4.30 with HIGH volume of 8.75 million shares traded.
RSI & MACD are bearish though RSI in oversold region.
Important Resistance of Sembmar: $4.38
Immediate Support of Sembmar: $4.22
Currently prices are resisted by 20 days MA at $4.38
Since Jan 2013, prices have been trending downwards forming a lower high and lower low. This is a bearish signal.
The resistance at $4.38 is expected to be strong.
We do not suggest buying till $4.38 resistance has been breached with high volume as the short term trend of Sembmar is bearish.
Important News
Wilmar International Ltd. (F34.SG) has purchased a 27.5% equity stake in Moroccan sugar producer Cosumar S.A. (CSR.CL) for 2.3 billion Moroccan dirham ($263 million) to take advantage of an industry that offers ...
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