ST Eng - 12 Feb 2025

Price Action Analysis for ST Engineering (S63)

1. Trend Analysis:

✅ Market Trend: The stock is in a clear uptrend, with a series of higher highs (HHs) and higher lows (HLs) throughout the past year.
✅ Higher Highs & Higher Lows:

• Recent HHs: 4.81 (Nov), 4.78 (Oct), 4.62 (Aug), 4.30 (May).
• Recent HLs: 4.59 (Jan), 4.44 (Nov), 4.37 (Sep), 4.15 (Aug).
  ✅ Trend Strength:
• No major trend-break signals, though some areas of consolidation are visible.
  ✅ Weakness Signs?
• Some overlapping bars in Nov-Dec 2024 suggest temporary consolidation.
• Wicks at highs (4.78, 4.81) indicate some selling pressure but were later broken.
• No clear lower high or lower low to indicate trend reversal yet.

2. Key Price Action Signals:

✅ Strong Trend Bars:

• Bullish expansion bars in May, July, and Jan 2025 confirm buying interest.
• Breakout from 4.81 in Feb 2025 shows strong momentum.
  ✅ Reversal Bars:
• Pin bars & wicks near 4.30 (May) and 4.15 (Aug) acted as support before trend continuation.
• No major bearish engulfing bars signaling trend reversal.
  ✅ Inside Bars & Dojis:
• Inside bars around 4.44 - 4.59 range (Nov-Jan 2025) indicate consolidation before breakout.
• Some dojis appear but mainly in pullbacks, not at key trend reversal points.

3. Support & Resistance Levels:

✅ Major Support Levels:

• 4.15, 4.37, 4.44, and 4.59 acted as support zones.
• The price bounced off these levels before continuing the uptrend.
  ✅ Major Resistance Levels:
• 4.78, 4.81, and now 4.95 - 5.00 act as resistance.
• The price recently broke above 4.81 and is testing 4.95-5.00.

4. Breakout & Pullback Analysis:

✅ Breakouts:

• Strong breakouts above 4.30 (May), 4.62 (Aug), and 4.81 (Feb 2025).
• Recent breakout above 4.81 with strong follow-through.
  ✅ Pullbacks:
• Pullbacks to 4.37, 4.44, and 4.59 were shallow, indicating a strong trend.
• No deep retracements signaling trend reversal.

5. Market Context & Trading Bias:

✅ Current State: The stock is still trending up, with no major reversal signs.
✅ Potential Trend Change Clues:

• If price rejects 5.00 and closes below 4.81, it could signal short-term exhaustion.
• A lower high and a break below 4.59 would be the first sign of trend weakening.
  ✅ Trader Psychology:
• Greed & optimism dominate—buyers are stepping in at higher levels.
• No panic selling or strong bearish candles.

Conclusion:

📈 Bullish Bias: The stock remains in an uptrend, with strong support at 4.59 and resistance around 5.00. As long as price holds above recent higher lows, bulls remain in control. Watch for price action near 5.00 to confirm further breakout or a potential pullback.

Disclaimer:Please note that this analysis is for educational purposes only and should not be taken as investment advice. Trading involves significant risk, and you should consult with a financial advisor before making any decisions.

Dividend:  3.24%