After my last post about Sembcorp Marine (SM), it broke up above 1.90 and hit 2.08 within 3 days (9.5%). However it then started to retrace and came all the way back to the initial breakup zone.
If you had miss the chance to stake earlier, this is your 2nd chance to stake. It is normal for a stock to break up strongly above a resistence level only to see it come back down to "square one" a few days later. This can happen due to "noise" in the market, in this case it is due to the fear that US' relentless oil production will send oil price free-falling again.
As this stock is still at a relatively low base, (ie early stage 2), then there is a reasonably good chance it will continue on the uptrend after re-testing this breakup level.
Today at 1.87-1.90 is probably our 2nd chance to enter with a stop loss placed slightly below 1.85.
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