PTTAR : 15% downside risk here… short from VST resistance at 40-41
May 22, 2011 Leave a comment
PTTAR does not have major volatility inherent in its price structure…..not a bad thing all in all. t di however test and bounce off key support near 38 on Friday, but needs a huge chunk of good luck and buying if it is to have ANY chance of breaking above 40 any time soon.
We view a dead cat bounce to or near 40 as a possibility in the near term, but overall a dip to 34-35, if not nearer 30 looks likely for Q3 (July-August-September)