THCOM : Key support at 7.50, resistance at 8.15
May 22, 2011 Leave a comment
THCOM may well remain a punt for a while yet, but for the VST see how it deals with price and trend support at 7.50 first. A good showing should see it attempt another move to 8.15 or so, and if a daily close or two above this level is posted on the chart, a bullish scenario for a retest of the August 2010 high at 8.90 will be likely.
A failure to hold on a daily closing basis at 7.5 or better places 6.85, 6.70 then 6.40-6.45 as supports. The last one being the most important.