Stock with Momentum: ST Engineering

August 26, 2024

In today’s fast-paced stock market, understanding the subtle cues of technical analysis is crucial for smart investing.

In this article, we delve into Singapore Technologies Engineering Ltd (SGX: S63), whose price action has shown a strong bullish trend that is likely to continue.

Key highlights from the technical report:

ST Engineering

Market Position: ST Engineering is currently considered a ‘technical buy’. The stock has remained intact within the uptrend channel for the past two years, and the secondary uptrend line has been trending healthily for the past six months.

Entry Prices and Support Levels: Recommended entry points are at S$4.50, S$4.37, and S$4.26, with established support levels at S$4.47 and S$4.16.

Stop Loss and Resistance Levels: To safeguard investments, a stop loss is advised at S$4.12. Identified resistance levels are at S$4.79 and S$5.10.

Target Prices: Set at S$4.79, S$4.90, S$5.06, and S$5.21.

Company Overview: ST Engineering is a global technology, defence, and engineering group. The company uses technology and innovation to solve problems and improve lives through its diverse portfolio of businesses across the aerospace, smart city, defence, and public security segments.

For a more detailed analysis, click on the link to access the report.

Take advantage of the stock’s momentum.

Our goal is to provide you with clear, actionable insights from the complex world of stock charts and trends. Whether you’re an experienced investor or new to the market, our analysis is tailored to help you navigate the market with confidence.

Please refer to the attached report for the disclaimer.

Chua Wei Ren, CMT

With over 12 years’ experience, Wei Ren is a market strategist who specialises in Technical Analysis and Macro Economics. Leveraging core price action trading strategy with classical technical analysis to spot market movements for entries and exits, he believes that historical data plays a pertinent role in how market prices would impact future trades. Wei Ren also writes for CGSi Trendspotter, a daily market outlook report that aims to identify trading ideas in Singapore, as well as China and Hong Kong’s equity markets. A seasoned presenter, he has been hosting live webinars since the start of his career as a market strategist and has been featured on various mainstream media platforms including The Business Times ‘Chart Point’ and Capital 95.8.

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