Thai Beverage has indeed manage to cross above the 0.64 to 0.65 resistance. CONGRATS to clients who manage to accumulate some during the consolidation phase previously…….
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Sent: Wednesday, July 09, 2014 11:00 AM
Subject: ************************* Thai Beverage: Range trading in the wait of more direction....... price 0.625
Subject: ************************* Thai Beverage: Range trading in the wait of more direction....... price 0.625
Thbev has been consolidating in the range of 0.61 to 0.64 for more than a month already. Seems like this 0.61 support level is holding pretty well which was originally the resistance it broke up from in May. So far this counter has been supported above the uptrend channel line since Dec last year and hovering closely to the 20 day MA LINE. Can consider trading the range and await an upside potential breakout above 0.64. This 0.64 level has held since July last year so any clearing resistance at 0.64 to 0.65 can be a key positive to see it trade upwards to0.70 fast. Monitor. Will average up on this breakout and raise stop loss to 0.63.
Current stop loss for long position would be at 0.595.
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