MENA : Reversal Pattern As an investor interested in the Thai construction industry, I've been keeping an eye on Mena Transport Public Company Limited. This company provides concrete transportation services in Thailand and has been operating since 1993.
In my opinion, Mena Transport could be a promising investment opportunity for those looking to diversify their portfolio. From a technical analysis standpoint, the Relative Strength Index (RSI) of Mena Transport's stock is currently over 70, indicating an upward trend. Additionally, the stock is showing a reversal trend in technical analysis, which suggests further growth potential.
Beyond the technical analysis, Mena Transport also has strong business performance indicators, which add to the investment appeal of the company. With a good track record and a presence in the Thai construction industry, Mena Transport has the potential to provide strong returns to investors.
Please note that this post is not intended as financial advice or as a recommendation to buy or sell any particular security. As with all investments, it is important to conduct your own research and analysis before making any investment decisions.
MENA.R trade ideas
MENA (TH) - Elliot Wave Analysis- The first minute pattern was a zz truncate (July 7 - Aug 16). Hence, we have a TP for the second leg of 81% of the first zz truncate pattern (@2.56).
- Note: Minute wave of the first zz truncate seems to be a non-standard correction with the last ABC also being a zz truncate. However; price did not retract back to 61.8%/81% of this wave. Since history tends to repeat itself, we might need to keep in mind that this time our TP of 81% might not be reached.
