UKEM : Should hit 1.44-1.45 before the weekend, but risky.
March 30, 2011 Leave a comment
UKEM is a new stock for Hoonthai, with the volume surge on Wednesday bringing to our attention. There should be a move to 1.44-1.45 before the end of the week, but be very careful at this range, as we suspect there could be some heavy selling. A breakout above 1.45 has the all time high from August 2008 at 1.57 as the last barrier between it and blue skies. First support is 1.30, then 1.20 and 1.15, so it’s not without risk and most certainly being ramped b a small syndicate from what we saw of the Bid-Offer shenanigans.