ST Engineering Rebound! Is It Time To Buy?

  • Post author:

I have to re-draw the Elliott Wave count for ST Engineering because the recent rebound is still the Wave B. There is also a Mini Elliott Wave in Wave B (1-2-3-4-5) and currently hitting the uptrend support turned resistance level (green line).

For those who know Elliott Wave pattern and know how to count the Wave (1-2-3-4-5-A-B-C), you should be able to identify what is the next move! It is Wave C of the Big One and Wave A for the Small One! The Big and The Small are in the same direction!  Now we just need to wait for the certain candlestick pattern to form! Happy Trading!

See last Elliott Wave count drawn for ST Engineering.

2013July12-ST Engg-800x600

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ST Engineering: Elliott Wave C Down

  • Post author:

ST Engineering rebounded and looked like completed Wave B after rejected at 20D SMA and 61.8% FR resistance at about $4.00. Watch next few days to see whether ST Engineering trade below $3.90 and $4.00. If yes, Elliott Wave C in action with support $3.59 (recent low) followed by the 161.8% FR target of $3.00.

2013June22-ST Engg-800x600

See previous stock chart analysis on ST Engineering here.

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ST Engineering: Elliott Wave A in Action

  • Post author:

ST Engineering has broken the uptrend support and started a correction. Base on the chart pattern, ST Engineering has completed Wave 5 (top at 261.8% Fibonacci Extension) and is currently trading in Wave A of Elliott Wave.

Things to look out for:

  • ST Engineering may be finding a support between $4.00 to $4.06. This is another uptrend support and also 61.8% Fibonacci Retracement support for Elliott Wave 5. If ST Engineering does rebound from this level, this indicates the end of Wave A (bearish) and start of Wave B (bullish rebound).
  • Wave B rebound will potential forming a Head and Shoulder. The resistance will be at about $4.22 and 20D / 50D SMA.
  • Watch for reversal candlestick pattern when Wave B reaches the resistance. Plan for a trade to short ST Engineering when the right shoulder is in formation.

2013June1-ST Engg-800x600

See previous Fundamental Analysis and Intrinsic Value calculation of ST Engineering here.

Continue ReadingST Engineering: Elliott Wave A in Action