DTAC : Approaching our Feb 28 target of 48-50
March 29, 2011 Leave a comment
On February 28th DTAC was trading at 40-41 and we said it was worth a punt with a target given at 48 to 50 with a timeframe from that date to the end of April. The recent move therefore came as no surprise to us, but we should watch for possible hesitation at the closing price of 47.50. If this level is taken out this week, then 50 will be easy, with the weekly chart trend resistance at 51.50 a potential topping out point.
Taking 15-20% over a couple of months from good solid stocks is one thing the Thai market offers up all year round.