PS : Pullback to 17 or so looks increasingly likely
March 13, 2011 Leave a comment
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.