ST Engineering (technical)

ST Engineering prices are in downtrend with little sign of abating. Downward momentum is strong as MACD line is in negative territory but continues to lead signal line down, OBV shows traders more ready to sell then buy. However, the downward spiral may be checked by RSI showing oversold signal for the first time since the downtrend started on 05 Nov. Reasonable support should be found at $3.40