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Carabao Group PCLShare has been falling because it was over-hyped and over-valued. I am expecting more of a pullback and a retest critical support zones between (90-87 baht) (87 -80 baht). We should see a bounce at these levels, bouncing off an existing trend line . However, if that doesn't hold then we could see another meaningful correction to lower levels to bring the multiples back down to earth. The earnings report should lead the way for direction. If their earnings report isn't to the markets liking, then we can expect that 87 baht area to fail and gradually make its way back down to the 40 baht region. If the Earnings report is decent and shows growing revenues and increasing margins, well, then we could see that white trend line holding and could be the catalyst for a continued uptrend. With a P/E multiple of 32 - the market is pricing in expected earnings for the future already and is expecting big things from this company, so I would tread lightly here. Any missed guidance or revenue contractions will send the share tumbling. Nonetheless, I will be taking my first position between 80-90 baht baht and leaving it there for the long term, and will be looking to add again in the 40 -55 baht region.
SET:CBGShort
by TalkingCents
ITD | Elliott Wave Projection | Triangle D Trading SetupPrice Action & Chart Pattern Trading > Elliott Wave projection correction wave triangle D shape - completed after achieved target CUP&HANDLES impulse wave? I think so with smart money and banker chip volume support at E point corrective wave. > Volume Profile high-E pattern looks like we have aggressive buyers/bankers to push the price > Short-term trade within triangle with risk ratio 2/2.5: 1 - Stop-loss zone @ C wave position > Medium-term trade within main volume profile range with RR 3:1 - SL @ A wave position Always respect your stop-loss Good Luck
SET:ITDLong
by dukeposh