ST Engg

Discussion in 'Acquistion Targets' started by zuolun, Jun 1, 2013.


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  1. Fredericazyy

    Fredericazyy Guest

  2. Fredericazyy

    Fredericazyy Guest

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  3. zuolun

    zuolun Well-Known Member

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    nottibird,

    For ST Engg, use the s/r trendlines to gauge the price movements, i.e. if 3.74 is broken convincingly & hit lower @ 3.65, the chart pattern will be negated.

    Also see below an example of a truncated wave 5 in Capitaland's chart, i.e. since wave 5 didn't move above wave 3, the chart pattern is negated.

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  4. zuolun

    zuolun Well-Known Member

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    nottibird,

    ST Engg has similar chart pattern as F&N, i.e. the current pullback may be wave-4 (see below).

    ST EnggThe Elliott Wave Theory

    ST Engg closed with a hammer @ 4.09 (-0.08, -1.9%) with extremely high vol. done at 8.87m shares on 31 May 2013.

    Immediate resistance @ 4.15, immediate support @ 4.00. The last line of defense is @ 3.74, the 200d SMA.

    [​IMG]

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    Last edited: Jun 1, 2013

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