Technical Pulse: Singapore Technologies Engineering Ltd September 23, 2019 294

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ST Engineering  (SGX: S63)  is expected to resumes it bullish rally based on the  technicals below:  


  1. Hammer formation at the support level 1 at 86.
  2. What is encouraging is the closing price of the hammer is near the immediate support at 3.88. This signifies a bullish return to the stock.
  3. Falling wedge formation.
  4. Bearish gap down between 4.19-4.15 is waiting to be filled.
  5. RSI Bullish divergence.


*key resistance level of 4.00 will be tested and should it breaks, the chances of the stock rallying toward 4.15 is high also.



Relative Strength Index

Period =14


Red Line  = Overbought at 60

Green Line  = Oversold at 40


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