BBL trade ideas
Thai SET impact from covid19 delta and omicron bad omensBBL ; price plummetted after fear started , when situation got to the worst, price already go up for days, as many can speculate the end of delta wave
at a point, price open gap up, which favor strategy of short and DCA buy back over weeks
gap up 23 aug , dropdown wks=... not quite gap down, more gradual price downtrend, downswing = 9, upswing= 11
kbank ; gap up 23 aug , dropdown wks=4, downswing = 9, upswing= 13
TMB bank (TTB) ; gap up 23 aug , dropdown wks=4, downswing = 17, upswing= 20+ up to now(jan22)
siam cement company (SCC) ; same time gap up but last only 2-3 wks then down for 14 wks, now on uptrend for 4 wks but will see extent of omicron impact
siam cement's paper&packaging company (SCGP) since ipo in 2020 it soared up and up, its theme of online shopping play important role in covid-era. So contradicting price fall
when others went up in late august & start 6 wks downtrend. jan 2022 might start another down trend, as we already had 13 uptrend candles (TD sequential 13)
but will SCGP be seen as covid-defensive stock might limit its downside
From my humble, non-expert, nooby personal opinion, Thai's bluechip stocks could be in danger of omicron impact.
Fundamentally ; afternoon of 5th Jan 2022, SET start falling, without apparent drop but retrospectively ,we guessed insider who seen omicron rising selling a chunk. 6th is public awareness of both us interest rate amped up & earning yield gap in downtrend, Thailand’s institutional side sells twice as much as foreign investor with 3x local investor buying the SET at 1660.
growth of income/profit from SET100/SET50 depends on both domestic economy & tourism alike which both of which would be crippled by this covid19's wave
Technically ' Thai's SET50 index plummetted 8 of last 8 times it hit resistance/support of 979- 999.
BBL | Weekly TF Inverted Head&Shoulders Target BBL | Thailand SET Index | Banking Sector
Chart Pattern Trading: Inverted Head & Shoulder weekly timeframe
Price Action Trigger: BUY ON BREAKOUT Neckline 129 Baht
Risk Ratio 3:1 minimum
Stop placement 5-10% below ENTRY POSITION
Always respect your stoploss
Good Luck
BBL| Finally crossing up EMA400| 3rd (Last) Buy Position| TP 160BBL | Thailand SET Index | Bank Sector | Price Action Analysis | Chart Pattern | 3rd (Last) Buy Position for run trend long-term investment strategy
Rising Wedge Pattern - Crossing up EMA400 - good sign for long-term buy
Final Target Price 160.0 @ Primary Elliot Wave 5
Moving up Stop-loss 119.0 EMA20
1st Buy @ Inverse Head & Shoulders Breakout
2nd Buy @ primary Elliot Wave 2 position
> Q321 strong performance +YOY +QOQ
> Big lot volume support continuously
Always respect your STOP-LOSS
BBL|Q321 +73%YOY|Sideway Up Crossing EMA400 |TP 130 SL 120BBL Sideway up crossing EMA400 - Long Run Trend Buy Position | 2nd Target Price 140 (Int. Elliot Wave 3 position Fibo 1.618)
> 1st Target Price 130 (Fibo 1.0) Aggressive Stop Loss 120 (EMA10)
> Risk ratio 3.2
>Strong Q321 performance +73%YOY +36%QOQ www.thunhoon.com
> Continuous Big Lot volume support
> BBD banker chip positive signal
> 1st Top Buy NVDR Value
> Uptrend channel of trade
> Strong buy signal SUPERTREND & CDC ACTIONZONE BUY RIBBON