29 November, 2006

Thailand: Brokers with OCBC expect an upturn in ThaiBev’s quotations

OCBC noted positive signals for Thai Beverage as "bullish candlestick formations, coupled with price indicators that are beginning to rise out of the oversold regions" could lead to upturn for the stock, Dow Jones Newswires released November 28.

OCBC said immediate resistance stood at SG$0.275, with subsequent resistance at SG$0.29 as "Elliot wave patterns indicate a possible start of an impulse up-wave". Brokerage doesn't have rating on the stock. Shares closed off 1.8% at SG$0.27 November 27.

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