With luck, a reversal
pattern as outlined in green. A
Target of 1,670. The pink channel would
take the index to 1,700, which is the resistance on the long
term log chart (see Thailand page).
Similar channel heading for
resistance at the all time previous high almost twenty
Next resistance at 330. Note
the divergence between the channel in grey and the slope of
the exponential trendline in blue. This disparity is caused
by the index moving further beyond the mean than it has
moved in 15 years. Does this indicate a new long term trend
or the setup for a plunge back to the 16 year compound
A huge, 15-year bottom. Volume is sadly
lacking. The make a persuasive bottom we should see the
volume between Feb 03 and May 04 transposed to the present.
The green vertical bars give an idea of the sort of volume
needed for a confident target.
450 is the next resistance within the
First sign of a top. Turning on channel
resistance adds to the probability that the stock will
plunge. But I'm not persuaded that this stock has seen its
Turn on a channel resistance at 28.5 sent
the currency through support in orange and probably back to
support at around 30.
Support in green at around 101.
Visit my goat farm:
(yes that's right, 'goat farm'. You don't think I waste my
time looking at stocks all day!)