Thai Beverage: Hanging Man!
Thai Beverage (THBEV) showed a Hanging Man, potential reversal pattern, at 50% Fibonacci Retracement Level after breaking down from a Symmetrical Triangle chart pattern. Minimum price target is $0.655. Standby to short!
Thai Beverage (THBEV): Forming the Right Shoulders of Inverted Head and Shoulders
Thai Beverage (THBEV) is formingthe Right Shoulders of Inverted Head and Shoulders after retraced back to the $0.525 support (61.8% Fibonacci Retracement Level). See previous analysis for THBEV.
If the neckline resistance (about $0.60) is broken, the target price of THBEV is $0.69-$0.70 (161.8% Fibonacci Retracement Level).
Thai Beverage: Watch for Trend Reversal
Thai Beverage rebounded strongly recently after breaking out from the down trend channel and move above 200D SMA. See previous THBEV chart here. Wait for the retracement back to $0.525 to form the right shoulders of Inverted Head and Shoulders. So far THBEV reacted very nicely to the Fibonacci Retracement Level.
