With the overall market falling, this stock is following the wind of the big market. On Nov 7th when I first saw the chart of this counter, I knew it's not good to invest in this stock while every rebound is an opportunity to short sell or cut loss because of the lack of interest and activity in this stock and also many stale bulls were up there waiting to liquidate. Oil prices had also been tumbling since I posted on Nov 7th and it tumbled and crashed more
AFTER Nov 7th.
http://stockmarketmindgames.blogspot.com/2018/11/sembcorp-marine-3-signs-of-bearishness.html
In fact many oil related blue chips like Keppel also followed the sell down and nothing seemed to support the stock or the price at the moment. Oil might have hit a demand area and when oil starts to rebound with strong buying, it shall then be time to revisit those oil stocks again.
Ronald K -
Market Psychologist -
A Stock Market Opportunist
