Chart Source: Poemsview 5th July 2019
The previous time we mentioned ThaiBev was in early May when it was trading around $0815 and we warned of further downside. True enough the downside came and it went down all the way to a low of $0.735. A very decent downside if you ask us.
Thaibev has caught our attention once again and this time we’re looking at it for some upside if possible. Don’t forget that ThaiBev is part of the STI component stock.
It has broken out of its horizontal resistance of $0.86.
1..It managed to stay above that at closing which is a good sign.
2. Volume is much more than previous days
3. Moving averages are sloping up.
What other points are you looking at?
Where would you place your stop loss or entry?
Want to know more about our plans for ThaiBev?