I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.

This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.

Tuesday, 9 May 2017

ST Engineering


ST Engineering (S69): Mark Up Phase
 
Technical Observations:
ST Engineering traded in consolidation for the whole March and April, we currently seeing the stock marking up gradually. We place the 1st Target at S$4.00 in view of whole number effect and previous resistance, with 2nd Target at S$4.20.

Recent Geopolitical events may spur governments to increase their defence spending which may boost ST Eng Defence Division, Global e-commerce and SG Smart-City vision may also potentially give its electronics division a lift.

ST Eng will announce its earnings on 12 May, Upside Surprise?
 
Probable Trade Set-up:
E: S$3.85
S: S$3.73
T: S$4.00 / S$4.20
R/R Ratio: 1.25x / 2.92x