Just last week, we spotted some weakness with Thaibev breaking back below the 0.75 level…
This was also where the 20 day MA was and hence more downside expected…
Thaibev has been trading lower since the beginning of the year and trading below the downward sloping channel resistance line…
Mid to long trend was down so sellers were expected to return again once we hit certain levels…
See targets that were drawn.
Over the past few days, we have actually sold down and broke the 0.70 level too and..
We are back to 0.65 as per target reiterated below and seems like even that is giving way too…
Would want to be careful on more bearish price actions below 0.65 now…
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