CFD Trading – Buy ST Engineering (S63.SGX) @ $3.90. Stop @ $3.76 and Target @ $4.10

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.

$3.90                 Buy
$4.10                 Price Target
$3.76                 Risk Management Stop
2 weeks              Trade Duration

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