ZMICO : Not of much interest at current prices.
April 9, 2011 Leave a comment
ZMICO and indeed other broker stocks will surely see some action in coming weeks, possibly because this rally offers the market makers and possibly larger shareholders an opportunity to sell. With the free bar of liberalized markets supposedly on track for Thailand next year, we can but hope it actually sticks this time, and with it maybe we will get some decent services at long last.
Walking in to a broker office in Thailand is like walking back to the early 1990’s. Ancient PC’s, even more ancient trading systems, no innovation…like EVER… need we go on?
ZMICO has some support at 1.82-1.83, again at 1.77 and strongly nearer 1.71. It has a key resistance at 1.91-1.92, but given the market rallies north of 1100 there is a good chance ZMICO will rally above 2 again, with a breakout at 1.95 having 2.14-2.16 as the swing target.