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ThaiBev: Will It Resume Mid-Term Uptrend?
Trend Spotting | 21 June 2013
Related stocks:
Y92
By: Robin Han
Articles (102) Profile

From the weekly chart, we can see that ThaiBev is still in an uptrend.

While the stock dropped for the past two to three weeks following a severe drop in Straits Times Index (STI), ThaiBev is still considered relatively strong compared to STI given that it is a component stock and did not drop much recently. Notably, when most of the blue chips dropped yesterday, ThaiBev did not make a new low, signifying signs of strength.

The STI dropped 80 points yesterday and it is likely to have another round of panic selling this morning. However, the stock may have a short-term rebound in the next few days or even before today’s market close.

ThaiBev may rebound stronger than STI and likely to resume mid-term uptrend in the next few weeks. One may consider buying on breakout for this stock. The stop loss will be one bid below the recent low.

Weekly Chart of ThaiBev

Daily Chart Of ThaiBev

Robin Han is a Ph.D in Department of Chemical and Biomolecular Engineering and has got a solid foundation in the financial markets.

Please click here for more information about this author.

Thai Beverage Public Co  0.900 +0.025 +2.86%   
Business: [FY18 Turnover] Spirits (46.1%), beer (41.1%), non-alcoholic beverages (7%), food (5.8%).

Insight: May-19, 1H19 revenue rose 26.1% to THB142.6b mainl... Read More


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