Technical Pulse: Thai Beverage PCL October 22, 2021 511

Thai Beverage (US: Y92) has finally seen some light at the end of the tunnel after technical has shown promising signals to the upside:   

 

  1. The formation of the double bottom between 2nd August and 21st September have come to past after prices broke above the resistance turned support level at $0.700 and uptrend has been formed as a result series of higher highs and higher lows.
  2. Despite failing to clear above the larger head and shoulder’s neckline resistance zone at $0.710-$0.715, tweezer bottom forms just right above the resistance turned support level at $0.700 as well as the Tenkan-Sen.
  3. Ichimoku shows 3 bullish golden cross after prices has trend above all 5 ichimoku’s indicator.

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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