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Friday, June 10, 2016

ST Engineering

ST Engineering - 10th June 2016

ST Engineering after hitting the high of 3.47 on 21st April 2016 it had since drifted lower to close at 3.13 on 10th June 2016. This is generally quite bearish.


A Long black candlestick presented on the chart today couple with quite a high volume that is generally quite negative.

Macd are showing sign of a negative divergence which may provide a tell tale sign that the share price may continue to trend lower.

Short term looks like it may go down to re-visit 3.05 the support level. Breaking down of 3.05 may see it goes further down towards 3.00 then 2.90 with extension to 2.80.
(trade base on your own decision)

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