SAMSUNG HEAVY INDUSTRIES

Samsung Heavy Industries(SHI) puts its main focus on the shipbuilding and offshore business. SHI is a core affiliate of Korea’s largest group company Samsung.The Company designs and constructs high value-added vessels such as LNG carriers and large passenger ships, as well as drill ships and shuttle tankers in which it has retainedits No. 1 position. It has recently also emerged as a competitive construction company ranking 12th in the domestic market with the future aim of creating high-tech business models by combining its expertise and digital technology in the shipbuilding and construction areas.

Taking a look at the above chart technicals, price rebounded strongly off twin binded supports at KRW16150-16200 (50d MA & S1) on Friday to close at KRW16650. The oncoming week should see price trading within a tightening range at Zone A. On a cautionary note, any breakage out of the triangular formation (a,b,c) will lead to further downward movement towards S2, which should provide added stability to the current correction.