$ThaiBev(Y92.SI) (weekly) – 5-wave/6.6-bagger run-up from 2008 hit a high of $1.06 seen in Jul 2016 before losing momentum to drop below neckline of a 1.5-year top at 84c to go into a 42% correction . . .
I asked Kopisoh whether the current price is cheap enough for a mid-term buy . . .
Kopisoh said it is of no use for you and I to say cheap . . .
When the price of a stock is real cheap senior chngkay will sure to come in to buy because there will be money to be made . . . and his action will show out on a price chart in the shape of a reversal bottom. . .
3 steps to confirm a bottom (i.e. a congestion area to reverse a downtrend into an uptrend):
Prices need to:
1. break out of the confining downtrend resistance (currently at 70c)
2. move above the 10- and 40-wk moving average so that the 10-wk m.a. can cross the 40-wk m.a. from below to form a Golden cross
3. move above the upper edge of the congestion area (i.e. the neckline of the bottom formation)
(See Blue-0, Blue-2, Blue-2b and Blue-4 for example of reversal bottom)
Warning: don’t ever listen to kopisoh if you want to make money as she always likes to talk nonsense . . .