Following up from previous trading call made on 8 March 2013, Thai Beverage has since broken above the 0.600 psychological resistance level and been trading above this level ever since for more than a week. Resistance at 0.600 has turned a critical support which it is hovering above currently. Currently seen in TOP 5 volume. News: “Please note that healthcare service provider IHH Healthcare Berhad (IHH) have been replaced by Thai Beverage (ThaiBev) as a constituent stock of the STI following the conclusion of the half-yearly review. This was effective from yesterday 18 Mar 2013”. Still might see fund managers adjusting their portfolio to hold more THBEV to track the STI index. More of a longer term trade to ride the gains on any break above 0.635 to 0.65 now. Near term target price at 0.700 if the 0.64 level clears out. As long as 0.600 remains as a critical support level and holds well, we are bullish with mid to long term upside bias. Possible to accumulate near support levels from 0.600 to 0.615.
For short term traders, a stop loss at 0.585 nevertheless.
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