SVOA : Dead for years, and will remain so until it breaks above LT resistance

SVOA is remembered for the 2003 “Taksin” rally, when it posted a monumental ramp from 1.12 to 6.65 in half a year. Since then, it’s been dull as dishwater, and on a longer term basis will remain so until lone day it finds the volume and support to break above the huge barrier seen at 1.90 to 2.12. With the recent high at 1.44 the first main resistance, the stock might tempt some if it comes off t0 1.03-1.05, albeit with a first support at 1.151.17.

As a trade idea, if 1.15 fails and it sees a quick downturn to much nearer 1.03, a speculative rebound trade with a 4-5 spread stop can be considered. If 1.15-1.17 holds for a few more days, consider entry near here for another move to 1.44 or so.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: