ST Engineering outlook for 2016

By | November 29, 2015

ST Engineering (SGX) outlook for 2016

29 Nov 2015

Outlook is bearish:

1. Monthly chart shows lower highs & lower lows and price getting rejected strongly as it rallied to previous support at $3.2. Now support has turned resistance.

2. The next support can be found at the trendline which incidentally confluences with the fib retracement of 78.6%. This level is $2.42, and I expect it to be reached by Jan 2017. You can look to buy at this support level $2.42

ST engg monthly 29 Nov 2015

ST engg monthly 29 Nov 2015

 

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