Thai Beverage Forming Descending Triangle

thai-bev-descending-triangle-20161028

It has been a long time since I tried technical analysis. To be honest, I am not really very good at it. Was watching Thai Beverage in my watch list and decided to check out whether it is worth jumping into. The stock price has appreciated quick a fair bit since I looked at it when it is at $0.72.

Based on the bearish pattern, a descending triangle is forming based on 1st August 2016 to current 28th October 2016.

Conclusion

I shall be staying clear of Thai Beverage for now. There is potential further breakdown below $0.91 should it breech the support line. As the old saying goes, “Never catch a falling knife”.

 

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