Friday, April 4, 2008

Update on Sembmarine 5 April 2008




Sembmarine continues to be hampered by the crossover of the 200 and 25 day moving average level at 3.90.

There is also a HCR from 4.00 - 4.20 which will be another resistance level.

It would take some pretty strong news or development to break these levels.

Volume of trading has been constant for some time now. Will watch for any days if increased volume.

A break above the $4.00-$4.20 barrier would likely send the stock back up to $5.10. However I am skeptical that this will happen in the near term. But still something to watch out for as the gain would be still good on that move.

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