As requested from the stocks poll, i present to you ST Engineering for this coming 41st National Day. Listed since 8 December 1997 on SGX Mainboard, ST Engineering Ltd is an integrated defence and engineering group engaged in four sectors namely Aerospace, Electronics, Land Systems and Marine.
Technically,
ST is resuming its main uptrend, which was interrupted during the may-june correction. RSI is showing gd strength which may push it to breakout of the resistance at 2.87 which coincides with the 38.2% retracement from its low of 2.55 to its all-time high of 3.34 achieved in april'06. Significant support at 2.80 followed by 2.67. A breakout from 2.87 would see it return to the $3 region once again. Downside risk is a breakdown of 2.67 towards 2.55.
Technically,
ST is resuming its main uptrend, which was interrupted during the may-june correction. RSI is showing gd strength which may push it to breakout of the resistance at 2.87 which coincides with the 38.2% retracement from its low of 2.55 to its all-time high of 3.34 achieved in april'06. Significant support at 2.80 followed by 2.67. A breakout from 2.87 would see it return to the $3 region once again. Downside risk is a breakdown of 2.67 towards 2.55.
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