ST Engineering – Potential Retracement?

Published On: 3 Mar 2021, 5:00 PMM | Wong Kok Onn, Dealer

  • ST Engineering went up to a high of $4.10 on 25th Nov 2020 then retraced lower and then consolidated sideways.
  • This consolidation has been on-going for the past 3 months, ranging between the high of $3.96 and the low of $3.71.
  • At the current price, if price remains within the consolidation range, we can expect it to move downwards, towards the support level of $3.71. If price however closes below the support level, it may lead to a downtrend.
  • Conversely, if the price breaks above the resistance level of $3.96, an uptrend may be expected.

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