KSL : Support at 12.50, 12.10 then 11 to 10.50

KSL looks rather bearish on its daily weekly and month chart, which his shown below. With its 200 day EMA at 12.60 and the recent low at 12.50 but a tick or two from Friday’s close at 12.70, a rebound on stronger volume above 13.00 is needed if the counter is to avoid a sip to 12.5 or so in coming hours of trade.

There is further support at a long standing gap closure price at 12.10, and a slightly stronger base at 11.70. However we have to look as low as 10.50 to 11 or so for major support, so a daily close below 12.50 could well be a sign that more downside is in store during what is cane crunching season in Thailand.

 

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