Krung Thai Bank (KTB)
February 8, 2011 Leave a comment
KTB is at the first key level that needs to be penetrated to turn the corrective trend back to the bulls – at 16.10. The second is 17 or so, and if by magic al the local issues suddenly disappear we will likely see a move north of 17 over the next week or two. However, trend support a 15.30 could easily be retest such news flow turn even more negative, and in our view, on an overshoot to the downside to the 14.30-14.60 range we are buyers for both a quick rebound trade to 15.80-16.10 and a swing trade….19.80 if not a tad higher before the end of the year.