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ThaiBev: Will It Resume The Uptrend After Consolidation?
Trend Spotting | 15 April 2014
Related stocks:
Y92
By: Robin Han
Articles (102) Profile

Thai Beverage Public Company (ThaiBev) is currently on a mid-term uptrend; it can be seen from its weekly chart that both the MACD histogram and moving averages are indicating bullish signal.

Although there are tough resistance at around the 0.65 and 0.70 levels, which are the previous swing high and all time high of the stock respectively, so far the stock has not show any signal to turn bearish yet.

From daily chart, it can be seen that the level of 0.58 serves as a nice support so far. In addition, the pull back for the past one month is relatively weak: the sell down was not severe and the trading volume during the pull back was low. ThaiBev is likely to resume the uptrend after consolidation according to what is shown from the chart.

From fundamental perspective, the recent financial statement released on 27 February reported that the revenue was stable with a marginal 3.3 percent dip to THB155.8 million. Excluding the gain on purchase of investment in associate of THB12.7 million, profit would have increased 18.2 percent. The fundamental data shows that the company is stable with some growth and does not have high risk in terms of investment.

One may consider buying ThaiBev if the price crosses the previous high for a few days. If so, the stock is expected to resume the uptrend thereafter. The stop loss price may be set right below the recent low or a few ticks lower.

Weekly Chart

Daily Chart

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  0.670 +0.020 +3.08%   
Business: [FY17 Turnover] Spirits (57.5%), beer (30.2%), non-alcohol beverages (8.8%), food (3.5%).

Insight: May-18, 1H18 revenue increased by 16.5% to THB113.... Read More


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