ST Engineering: More weakness still expected with selling seen today again, till where? price 3.06

More selling seen today too with a new recent low at 3.06…

Can it head towards the critical 3.00 psychological level as mentioned?

Quite likely for now…

May start to see some bargain hunting near 3.00…..

We had a 1ET Bearish Signal on the system 3 weeks back actually before the selling intensified…..

Have a great weekend J

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Recent Emails:

Sent: Wednesday, November 02, 2016 9:08 AM
Subject: ******** ST Engineering: A break down below 3.10 support too, may head towards 3.00 next, price 3.08

Sent: Wednesday, October 26, 2016 9:14 AM
Subject: *********** ST Engineering: Potential weakness below 3.13 - 3.14.... price 3.14

For illustration purpose only

ST Engineering: Indeed a move upwards as seen today, can the first target at 3.20 clear out?

Now at 3.18, let’s see…..  J

Sent: Monday, March 14, 2016 9:32 AM
Subject: ************** ST Engineering: A move above temp 3.10 - 3.12 resistance can see short term strengh back to 3.30, price 3.13

Following up from previous call, we have seen ST Engineering consolidated below the 3.12 resistance for more than a week but still maintaining above the 3.00 support level. Today we have seen a move above the temp resistance with volume building up. Any closing above this level can potential see it trade back to 3.20 then 3.30 in the short term. At current level, it has cleared above the 100 day and 200 DAY MA which can show that the mid to long term trend is turning positive. 20 day MA also about to cross the 100 day MA positively. MACD showing more legs to the rally as long as 3.10  holds as support now. Let’s see….

ST Engineering: INDEED A breakout as predicted yesterday morning..... price now at 3.11

Still looks awesome but what are the levels to take note?

Sent: Thursday, March 03, 2016 9:51 AM
Subject: ***************** ST Engineering: Potential breakout above 3.05 - 3.06..... More upside likely on a clear move... price 3.05

St Engineering has traded sideways below 3.05 since Nov last year and today it has neared this KEY RESISTANCE again with volume building up. Any firm move above 3.05 can potential see a reversal back to 3.20 then 3.40 in the near term. Watching price action for more confirmation. Indicators are looking positive at the moment with MACD above the zero mark and pulling away positively. There can be more legs to the rally above 3.05, clearing of sellers at 3.06 can be a second confirmation.

ST Engineering: Don't look good below 2.80 as mentioned.... cautious long.....

Let’s see if the 2.70 holds for now…. Now at 2.73 already….. pretty fast sell down spotted….

Sent: Tuesday, February 02, 2016 9:39 AM
Subject: ******************** ST Engineering: Broke down below 2.80 support, more selling on a close below likely.... price 2.78

ST Engineering has been supported above the 2.80 level since August but today we have seen it break below this support on above average volume. Longer term moving averages are still pointing lower with downtrend intact now below 2.80 especially. Next support at 2.70 now. As long as 2.80 is a resistance now, we can still expect more weakness on this move with a Bearish head and shoulder pattern seen too. 2.60 was the low seen in Dec 2011 so it may try to head towards that level of the 2.70 fails to hold too… cautious long below 2.80 now with indicators also starting to trend downwards

ST Engineering: Pushing upwards as per call issued yesterday morning 9.11am?

Hit a high at 3.05 today, can that clear out too?

Sent: Tuesday, December 22, 2015 9:11 AM
Subject: ************** ST Engineering: Breakout seen above the CRITICAL 3.00 psychological resistance, price 3.01

St Engineering has been trading below the 3.00 mark for more than a month and today we have seen a breakout on stronger than average volume. 20 day MA line is starting to reverse upwards with this move, more confirmation on clearing of 3.02 – 3.03 sellers as well where we can expect a trade back up to 3.10 then 3.25 first. MACD sloping upwards after a crossover and heading above the zero mark soon especially if it can hold above 3.00 now. Let’s see. Bullish short term as long as this new support holds with RSI also showing strength.

********************* Bearish Setup: ST Engineering - Breakdown of support seen..... downside likely in short term, price 3.51. (NOW 3.41)

Can it break below our 1^st target at 3.40 now ?

**** Trading Sell Call: ST Eng. Share price 3.78. (CFD Sell trade only)

ST Eng  broken the 3.80 support level yesterday and still did not manage to get back up above today. 3.80 support was holding very well in Dec last year and Jan this year till it trended higher. More downside is likely if 3.80 remains as the new resistance level. As long as ST Eng does not creep back up above within the next 2 days we are bearish with downside target set as 3.62, then 3.50.  At this price level is has also broken below the 200 DAY MA (Dotted blue line) which can signal more weakness.

Buy Stop at 3.83. 

ST ENG CHART - Broke the critical 3.10 resistance level.... now at 3.14.... target to 3.20 in short term.... more upside to 3.30 if 3.20 clears.....

put a stop at 3.08...

ST ENG CHART - BROKE 2.80 support, more downside in line with weak market

ST ENGIN CHART - Trading again at the lower end of the range... Range is from 3.10 to 3.30......

Counter has been trading sideways for more than a year already..... relatively stable counter...