Chart[1] - ST Engineering

The week the counter experienced relatively high trading volumes compared to previous weeks and the seeming formation of the three white soldiers pattern (Tuesday / Wednesday / Thursday trading sessions), coupled with the counter making higher lows since Aug (25 Aug 2015 low was $2.70, 29 Sep 2015 low was $2.82 and 1 Dec 2015 low was $2.83) and a higher high (28 Aug 2015 high was $3.13 and 29 Oct 2015 high was $3.38) suggests that perhaps the counter might be turning the corner on its downward movement. The 50 day moving average (MA) has also started to flatten out which is a slightly promising sign to a trend change.

For the record, do not possess a crystal ball that tells me the future, however assuming that the above does turn out to be correct (changing of trend), the current market price $2.94 would be a decent entry price into the counter. Immediate resistance is the 20 day MA which is at $2.97, followed by the 50 day MA at $3.09, then the current upper limit of the Bollinger Band at $3.15. Clearing those resistance levels would see the counter retest the 200 day MA which is about $3.30.

Immediate support is at $2.92/93 where the 10 day exponential MA (open and close) reside.

THREE WHITE SOLDIERS
http://www.investopedia.com/terms/t/three_white_soldiers.asp