ST Engineering (technical)

ST Engineering: from a multiyear perspective, STE's uptrend is still intact. Nevertheless, the near term outlook doesn't look good, particularly after the break of the key $4 support-turned-resistance, and with the continued negative momentum in the key indicators. One key support level is at $3.81 (200 day MA), and the other key support level is at $3.70 (38% Fibo retracement level). If both supports are taken out, it would suggest that the medium to longer term trend has turned negative.