Previous bottom bounce failed so here's another attempt for potential long opportunity. Target - 37-40 THB (previous support/VWAP from IPO)
Key Observations:
- Break out of previous high created in March 2022
- Break out of volume shelf at the bottom (668M shares traded vs 442M shares float)
Kerry Express.. I'm feeling sorry for those who jumped in its IPO
Everything is on the chart (I personally don't think it will reach the ground)
Just do good MM /DCA and then be patient it takes time to grow !
(they have interesting business plan/structure though even there're many competitors
but most Thai people do online shopping than going to the shopping...
Who like trading stocks from the bottom may like this basic pattern (Double bottom and Price Pattern Signal). I apply WTZ4 for making trade setup and trading plan as illustrated on the chart. Calculate your risks before trading. Good luck.
Catching Bottom Bounce on SET:KEX. Price is extended to the downside, should mean-revert to EMA/VWAP from IPO. Tight SL in case stock moves further down
Kerry Express has increased its deliveries by over 15 million packages (nearly 11%) over the same half year period as last year's, as well as reducing the costs (although the price per package fell too, resulting in reduction of gross profit - perhaps from falling consumer purchasing power in Q2). Future expansions include Kerry Cool Express (cold chain delivery)...
Non-standard Correction - ABCXABC in the downtrend
- There is a high probability that price will go down further to complete another ABC following the Intermediate Wave (X).
