Sembcorp (technical)

SCI: co has been buying back shares over the last couple of days. Not aware of any new significant corporate devts in the pipeline. Chart-wise, share price has been on a correction, and is now whipsawing around the 0.38 Fibo retracement level (at $4.80). A technical bounce could be due, given the stall in share price decline, and with the key indicators having been in extended oversold territory. Near term resistance is at the pscyhological $5 mark. However, a dip below the recent low at $4.75 could suggest that share price weakness has resumed, hence see support at $4.50 in such a scenario.