Since the post below, STO broke higher as hoped but then reversed off overhead resistance at $6.60 and fell to retest the prior $6.30 resistance level (now support). Price appears to be moving up again but the jury is still out on that one. Assuming it does move up to make new highs my new initial target is $7.38 being slightly lower than the $7.64 suggested previously. A higher secondary target of $7.87 is now on the cards as well.

STO 30Dec20

27 November 2020

Like numerous other stocks commented on this week, STO has made a new uptrend and making higher troughs and peaks on the weekly chart (except for the last trough which was $0.01 lower than the preceding trough). Having retested resistance at $6.32, STO has a price target of $7.64

STO 27Nov20

 

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Robert Norman

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Email: robert@sharecharting.com.au

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