ST Engineering (SGX:S63) share price has rallied since 3Q2018. Although the stock took a dip in recent months, we believe the stock has strong upside based on the technicals:
1. The bullish piercing line candlestick pattern formed above the 78.6% of the Fibonacci retracement level of 4.35-3.86
2. RSI Bullish divergence indicates a strong bullish momentum ahead.
3. The stock has been making series of higher highs and lows and the uptrend line is still intact.
4. Price has been trending above the 200 SMA. CHART LEGENDS
Red line = 200 periods moving average
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