SembMarine had a super down trend and high amount of concentrated sellers for a long time. Ever since the bad results combined with some failed strategic plans that was supposed to be released, the stock had been selling down profusely almost everyday non stop. All the small little rebounds which happened was just short covering while I have not seen any major buying yet.
However, during my live trading session yesterday, I witnessed something peculiar in the late afternoon. There were some buying interest but were pulled down by the overall market and then all of a suddenly, there was a small charged up by smart money as the stock moved before closed low towards the end of day as the Hang Seng closed almost -700 points down. In the near term, I am bullish on this counter as it has a flush and has reached a demand zone.
I will be conducting short term trading event next Tuesday March 13th. For those interested you can register below.
Ronald K - Market Psychologist - A Stock Market Opportunist
