CORRESPONDENCE COURSES
ST Engineering – Uptrend still looking strong despite temp sell down.. Targets revised? Price 3.95
Author: Trading Impossible | Joey Choy
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Just at the beginning of the year, there were some signs of reversal in ST Engineering…
We could see price attempting to break the 3.60 resistance bullishly and buyers looked like they were ready after the 1 year consolidation..
Trend indicators were also starting to point towards an uptrend forming…
Hence, some upside targets were drawn as seen…
Over the past month, we have seen our targets hit and it had even broke above the multi-year high at 3.85..
Price started to push higher towards our revised target at 4.10 however…
Over the past few days, the market weakened due to US China trade war tensions escalating again and it sold off..
Buyers started to returned near the 3.85 new support and the uptrend still looks intact…
Will continue to see if next targets can be hit… 4.00 need to get out of the way first…
One of the few good uptrend continuation stocks to ride further as long as rules are met…
