ST Engineering after hitting the high of $3.12 on 7th March 2016 it is now taking a breather / break with the share price being corrected down to close lower at $3.01 on 8th Mar 2016.
The volume seems low which is generally quite healthy /positive for a stock that has risen from the low of $2.67 on 10th Feb 2016 to a high of $3.12 on 7th Mar.
As reflected on the chart it is still trending upwards with the current price of $3.01 is hovering above the 14SMA & 25SMA lines. This is generally rather bullish.
Hopefully after having this pause/break it will be able to regain the upwards momentum move to re-visit $3.12 . Breaking out of $3.12 with good volume that may propel to drive the share price higher towards $3.20 with extension to $3.30.
EPS of 17.05 cents . Dividend of 15 cents per annum(4.9% yeild). PE of 17.65 times is still consider quite a good price to consider to accumulate for this defensive play counter. TP $3.30 (about PE 19.3 times )
(trade base on your own decision)
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