CFD Trading – Buy ST Engineering (S63.SGX) @ $3.37. Stop at $3.28 and Target at $3.52

ST Engineering Stock Code S63.SGX

Outlook
Price broke above the cloud on the 14 August and has stayed above the cloud since that day. After reaching a high of $3.53, price has been declining but had stayed above the cloud. Price is also currently above the Base line but is below the Conversion line. Conversion line and Base had a bullish crossover, hinting of the bullish trend. Lagging Span is above price of 26 days ago and also above the cloud, confirming the bullish trend. MACD is bullish and the fast line could be turning up again from the zero line, hinting that this current correction could be coming to an end soon. We are expecting price to test the resistance of $3.53 again.

Strategy                  
$3.37                 Buy
$3.52                 Price Target
$3.28                 Risk Management Stop
2 weeks            Trade Duration

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