ST Engineering Stock Code S63.SGX
After reaching a high of $4.10, price has declined lower to the support at $3.80. This is the resistance turned support line as well as a support zone provided by the Conversion and Base lines. This support zone is above the cloud, which means the trend is still bullish and the recent decline is just a correction. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish price trend. MACD is bullish and a bullish crossover is likely in the near future. We think price is likely to be support at the $3.80 level and move higher to the previous high at $4.10 in the next couple of weeks.
$4.10 Price Target
$3.76 Risk Management Stop
2 weeks Trade Duration