Monday, September 1, 2014

Thai Beverage (68.5 cents) - Shooting star appears

The uptrend remains very much in force, as evidenced by the still-rising moving averages. Quarterly momentum has lost steam and has been forming a series of negative divergences with price.

The breakdown point for momentum is likely to be its equilibrium line. As long as this indicator remains above its equilibrium line, the uptrend is likely to stay intact. There is, however, a shooting star that formed on Aug 22. The shadow of the shooting star, at 70 cents, has yet to be bettered. Support has been established at 65 cents.

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