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