Analysis on BTSHi all,
after long down trend,
finally, some light is being shown.
good opp for those who truly believe in BTS.
best regard,
TraderApprentice
BTS.R trade ideas
BTS- wait for break out and retest before shooting. BTS is close to break out a down trend line. If it is possible, just wait for a retest before placing a buy order. In the other hand, if it cannot break a down trend line, it might be possible to go down for the latest support level.
BTS Group Holdings PCLBTS 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.
BTS Day Chart 15 Jan 2021The support level is at 9.65 and the upward rebound will see the stock back to 9.90. That the resistant level.
