Chart Source: Poemsview 10th July 2019
Thaibev which we mentioned just last week has indeed moved up with the reasons which we pointed out in our previous post. It has seen a nice 2.5% upswing within contra period which is an added bonus. It is currently at a critical resistance of $0.88 as drawn.
So an entry at $0.865 might be valid as it manages to stay above the $0.88 resistance. For such a trade, one has to stay alert and nimble.
There is a gap resistance at $0.88 unless Thaibev manages to stay above that then there might be a chance to cover the gap. Volume should also come in in order to sustain the move.
Want to know more about our plans for ThaiBev?