September 22, 2011 Leave a comment
IVL should come down to 25 quite soon, and possibly to to between 18.50 and 19.80. For now any bounce will struggle to go far given huge resistance from 33.
Technical Analysis of Thai Stocks
August 1, 2011 Leave a comment
ALways rather dull to hold a laggard, which IVL had been of late. The chart looks as if it is pointing to 40 or so, at which price we will look again. There is some support at 42.75, but if a bounce fails to materialize here it should hit 40 quickly thereafter
To turn things around a huge amount of buying would be needed, and with it a clear break above 47.
April 28, 2011 Leave a comment
IVL will likely dip to 51.00-51.50, and it is how it copes at this key near term support that will give us direction for the next week or so.
If it holds here, then a a retest of last year’s high at 61.50 will be a distinct possibility, but if it fails we doubt the 50 day EMA at 50.7 or so will be the low for this corrective wave (nothing to do with Elliot wave, which is a lot of rubbish as far as Hoonthai and friends have observed over the decades.
We think a dip to nearer 47-48 is more likely, but unless the US Dollar really starts to rebound, Thai stocks are up for at least one more decent spike, and as with many other stocks, we are buyers for the rebound.
March 8, 2011 Leave a comment
Nice move on IVL, but for those that missed the volume supported break on the second highest turnover year to date for the counter, there is obviously quite some resistance at 50, but we view 52 as a harder barrier to pass.
There is no real price support until 48.50, and even that is not particularly strong, so as always, this depends on the market makers, with our view being it should get very close to 52 in the very near term.
March 1, 2011 Leave a comment
IVL on the hourly chart does not look very interesting, and as can be seen, the counter is currently held back by resistance from 44 to 45, with channel support at 40 or so.
Use 41.50 as the key support today, and 43 as the first resistance. Unless flows suddenly suggest otherwise, we prefer to wait for a dip to 40 or so before paying much attention here.
February 20, 2011 Leave a comment
IVL was a late comer to last week’s rebound, bouncing from 39 to 42 during the final two hours of trade before the long weekend. The counter faces quite a considerable barrier from 42 to 43.50, and even more so from 44.50 to 46.
Closing last week at 42, its first support is at 41, with a slightly more substantial level at 41.00-41.25, entry at 41 or so is not without risk, but should see a couple of Baht of upside, but at 43.00-43.25 there is a chance of some hesitation and indeed VST profit taking.
February 9, 2011 Leave a comment
IVL has key support at 35 to 36. Currently at 40.75 – right on its 10 and 15 day SMA’s, we expect it to fall to support noted above within a few days. A rebound and solid daily close above 44.50 is needed to cancel this VST bearish forecast. If however 35 fails to hold, IVL should retrace to 31.50-32.50.