BTS has been trending down for awhile now - It broke through a strong support at 8.80 and has opened itself up for further downside risk.
I would like to see it hold above 8.80 and eventually close higher than the yellow line above 9.60.
If it holds above the yellow line and breaks through resistance at 10.20 Baht it should give us confirmation that the stock is going to pusher higher.
However, I believe it will continue to trend down in the short term to test 8 Baht.
Bangkok residents have also been asked to work from home as much as possible, and many schools still haven't opened up and are currently learning online. These are not tailwinds that support price increases.
Unfortunately, I see BTS under pressure for the remainder of the year until some normality returns - For long term investors this may be an opportunity to load up at lower prices -
BTS also pays a fairly good dividend.
I would like to see it hold above 8.80 and eventually close higher than the yellow line above 9.60.
If it holds above the yellow line and breaks through resistance at 10.20 Baht it should give us confirmation that the stock is going to pusher higher.
However, I believe it will continue to trend down in the short term to test 8 Baht.
Bangkok residents have also been asked to work from home as much as possible, and many schools still haven't opened up and are currently learning online. These are not tailwinds that support price increases.
Unfortunately, I see BTS under pressure for the remainder of the year until some normality returns - For long term investors this may be an opportunity to load up at lower prices -
BTS also pays a fairly good dividend.