Siam Cement (SCC) : 308 is key support this week.
February 9, 2011 Leave a comment
Volume analysis of SCC tells a similar story to most other blue chips – institutional distribution; with no turn around seen just yet. SCC has a weekly breakdown point at 308, and given it closed at 312 today (Feb 9th ) watch this support carefully. A breach should see it come off to nearer 274-276 once again. Indeed, nearer 28 it will likely see fresh buyers emerge.
If however 308 holds it will be a good sign for the market, with 330 then 340-342 initial resistances