Technical Analysis: Thai Beverage PCL SGX:Y92 (Bullish)



ThaiBev (SGX: Y92) downside correction is coming to an end based on the short-term technical:


  1. The formation of the larger bullish flag/descending triangle is indicative of a potential upside.
  2. The head and shoulder formation previously have been fulfilled after prices broke below the neckline resistance at 0.710-0.725 and the bullish engulfing candle on Monday has rebounded at 138.2% extension level of the head and shoulder formation.
  3. The relative strength index has shows oversold signal. Indicative of a bullish rebound.


*Timeline of the trade is 8 weeks from the date issued.



Moving average

Red dotted line = 200 periods Moving Average

Blue dotted line = 50 periods Moving Average

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We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
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