Support 1: 4.20                       Resistance 1: 4.06

                                                   Resistance 2: 3.86

ST Engineering strong bullish move has potentially come to a halt. Base on the Elliott Wave count analysis, the stock has completed 5 minor waves, and it soon will be starting the corrective wave down.

To further explain the strong bearish move ahead, the end of the 5^th wave shows an evening star pattern and the stochastic oscillator is showing an overbought condition, which is a key signal to end the 5^th wave.

In the near term, the stock will face a downward resistance at 4.06-4.00 level, should it rebound, the rebound will most likely be a short-lived rebound and then carry on with the 3^rd wave movement downwards till 3.86.

*Should the stock breaks above the resistance price level of 4.20 and close 2 strong bullish candlesticks above; there is a possibility it might extend into an impulse 5^th wave extension wave.

CHART LEGENDS

Red line = 200 periods moving average

Blue line = 50 periods moving average

Green line  = 22 periods moving average