Chart Source : Poemsview 24th Jan 18
St Engineering a STI component stock, has seen some healthy volume coming in during the week .It broke out of our horizontal resistance of 3.37 and continued its march up towards our targets.
It has also broken above our 3.45 horizontal resistance and staying above that might see next few possible targets of 3.50 then 3.55.
The 20 has cut above the 50ma which is a good sign to us but of course protective stops are always in place.
St Engineering has just bagged some contracts recently and more can be read HERE.
Another interesting fact, do take a look at the past few years. See what happens during the first quarter of the last few years. =). Lets hope history repeats itself this year.
We would use Poems CFD to swing this trade!
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