SPALI : Key resistance at 10.60
February 28, 2011 Leave a comment
SPALI’s key resistance is at 10.60. A breakout here will however need triple or more of the paltry 10m shares traded so far today, with anything less than a major surge in flows likely to result in a failed breakout move and a subsequent pullback to first support at 10.10 or so
A successful volume supported breakout above 10.60, today or later in the week has almost one Baht of potential upside to nearer 11.50-11.60, and 11.20 as the very first target given it breaks up.