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Singapore Stock Recommendation - SGX

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Publish date: Tue, 27 Nov 2012, 08:33 PM
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Scrip Name
Action
Holding Period
Pivot
Resistance
Support
Singapore Technologies Engineering Ltd.
Long
15-20 DAYS
3.54
3.62-3.72-3.80
3.48


Technical Outlook:
ST Eng. currently in uptrend and seems bullish from this level. Recently it took support @ 3.40 marks and trading above 50 day MA level of 3.517.

ST Eng. is trading well above its 61.8% retracement level which is again a bullish sign and if we see recent trading activity of this stock it is in consolidation phase trading between the ranges of 3.62-3.40.

ST Eng crossed its Resistance level of 3.51 and currently traded @ 3.53; it could be bullish above this 3.53-3.54 level and take support @ 3.40 marks in near term.

Technical indicator RSI is above its neutrality area at 50. The MACD is positive and just near to its signal line. The stock could retrace in the short term. Moreover, the stock is above its 200 and 50 day MA (respectively at 3.247 and 3.517). 
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