September 22, 2011 Leave a comment
There is decent support from about 1.45 to 1.50, which should be retested soon. If it fails then 1.30 or so should be seen again, with lower and firm support at and around the 1.2 mark.
Technical Analysis of Thai Stocks
March 30, 2011 Leave a comment
TMB has been trading near current prices for a while now, and as such has built a decent band of support from 2.20 or so to 2.30.
The resistance is clear – 2.42 to 2.46, and will need a huge volume day to take it out, but we think it will breakout again, and therefore feel a punt from 2.34 or so is worth consideration for those not already long. In terms of short term targets for a successful breakout above 2.46, we think 2.70 is a reasonable one to keep in mind for traders.
March 26, 2011 Leave a comment
TMB should hit 2.42-2.44 in the very near term, with a breakout here pointing to a spike to 2.45-2.50, possibly 2.56.
With decent support from 2.24 to 2.30, treat any weakness to or just above this range as probably the last chance to enter before a move to 2.50 or so.
A daily close below 2.24 would however be a bad sign and activate stops.
March 13, 2011 Leave a comment
Unlikely to pass the not inconsiderable short term resistance from 2.27-2.30, TMB may fall below first support at 2.20-2.22 and temporarily revisit 2.12-2.14 or so.
To turn things around a close north of 2.30 is the prerequisite, and even then it will not be until 2.45 is cleared on a weekly basis that the bears will be put back in the cage.
March 9, 2011 Leave a comment
Given TMB manages to hold above 2.24 – which is both today’s low and its 100 day SMA, the stock will have a reasonable chance of rebounding to the 2.44-2.48 range. There is further support at 220, 2.14 and strongly at 2.10, but sell-side flows have not been fierce today, so a bounce 2.32-2.34 could be seen tomorrow.
February 14, 2011 Leave a comment
TMB got pretty close to a 61,8% rebound of the recent drop from 2.48 to 2.00, but the band of resistance from 2.30 to 2.34 will not be passed easily. Indeed, if there is an equity correction due to a highly inflationary CPI from China Tuesday, TMB could easily slide to 2.16 or so. A breakdown below 2.16 has 2.10 as the next support. A daily close below 2.10 would be rather bearish, but for today we expect 2.16 to put u a fight. In terms of volume weighted average prices, the stock’s one week average is 2.21, the fortnight average at 2.20 and the 4 week average at 2.16.
February 8, 2011 Leave a comment
TMB tested key week chart resistance at 2.24 today, but may need a little more time before it successfully penetrates this level. A brief pullback to 2.12 looks likely but if this level holds then another retest of 2.24 will not take long. With major support from 1.90 to 1.93 or so, TMB is a buy in this range if the broader markets take a hit this week due to local issues. Also keep I mind a follow buy trade when 2.24 is eventually taken out, with 2.48 an easy first target for short term trades.