PS : Pullback to 17 or so looks increasingly likely

Closing the week at 17.90, we view 1770 as quite an important support for PS, and if taken out easily,  may result in a pullback to 17.00. A rebound trade for 0.50-0.70 might tempt some, but overall there is a chance this stock will drift back to nearer 16, if not a tad lower.

For the first day or two we are unsure as to the Japan effect on local shares, but for those not already long a steep pull back our of fear and uncertainty should in the case of many a Thai stock provide for good re-entry prices.

 

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