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Thursday, March 3, 2011

Sembcorp Marine: Multiple Bearish Divergences

MACD Histogram on it's way to completing the C part of a classic bearish divergence
RSI lower high as price higher high
Force Index lower high as price higher high
Stochastic lower high as price higher high

Very strong signal considering it's from a weekly chart

Shorting opportunity may arise at 5.50+ level

my own opinion only :)

3 comments:

  1. Interesting observations. I wonder what's the story behind Singapore's currency designs. I remember that there was a time when we used ships, and birds, and nowadays its people at the back of the dollar notes.

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  2. Hi Blog Towkay,

    thanks for your comments, but it may be on the wrong post :P

    Well I think pictures represent a country's priorities. :)

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