SET Property Sector (Prop) : One final dip before a boucne?
February 9, 2011 Leave a comment
Currently trading very near its 50 week SMA at 134 or so, the SET Property Sector looks as if it might succumb to another short period of weakness before a rebound later in Q1. Watch 132.70 as the breakdown price for the sector, which will remain in play unless it rebounds and manages to hold above 144 very soon indeed.
A breakdown scenario at 132 or so places 120-126 as the key support band. As with most other key sectors, wait a short while for lower prices, then re-enter in a big way.