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Weekly Scan as of 10-July-2015 [PTTEP, HOTPOT]

Each week, we scan for securities that reached its support/resistance zone and have potential to rise as well as interesting securities. All charts present here are weekly chart, unless specified otherwise.

WARNING. This is not a suggestion to buy or sell.

SET Index was hanging on the edge of its support zone. With a fight between selling force by Foreign and buying force from Institute. The winner will decide SET destiny. From the weekly chart, we have seen price receiving pressure from the red resistance line. Any rebound from this point might face more resistance at this line again. If the bear wins and price drop clearly below the key support level, we may see 1400 soon. However, if the bull back to the market, it will face resistance at 1500, 1530, and 1550, respectively! We need a very strong bull(s) to break through these obstacles!

set

PTTEP was running sideway around 100-120 for almost 8 months and currently sitting around this year low. We haven’t seen any support from this level until 80 if price actually break down. In the other hand if price rebound, the resistance is around 120. Long term investor may buy around this level and in case of price break down, we will buy again at 80 Baht! For short term investor, place stop loss price at 5-10%.

wk1

HOTPOT was almost reach its all time low. We don’t want to bet that price will rebound when it hits its lowest because price may drop past its lowest to make the lowest of the lowest! Keep watching the strong bullish signal around the green zone. If it did rebound, the resistance will be around 2.80 Baht. If hell break loose and price drop below the green zone, I would stop loss and invest in another stock!

wk2

Good luck and happy trading!

About Alan Maleesatharn

CEO & Co-Founders of Polar Bear Fishing International, full time data manager and biostatistician at Siriraj hospital, a father to lovely wife and adorable son.