Tuesday, November 12, 2013

ThBev - Consolidating with downside potential

ThaiBeverage, Currently sideway consolidation. However it is below the 10SMA, 50SMA and 200SMA. Facing the heavy resistance seems that it is easier to go lower level than higher level.

Can consider to trade break support if STI is weak.

Short Entry at 0.51
Initial Stop 0.545
Target 0.455
Timeframe 2-3weeks

However if it break upside resistance above 0.560, a potential uptrend could be seen, we will look for long entry.
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