ThaiBev Saw Strength Among Sea of Red
Despite Singapore market experienced sell off today, ThaiBev broke above its range after earnings announcement.
Smart Money has been with the stock since the stock broke above the red downward trendline. This can be seen from our RS indicator as it stayed above zero line since the red line break-out. RS above zero indicates the stock is outperforming the index.
Upward momentum is expected to continue. Thus, I'll be on a lookout for pullback for trading opportunities.
RS helps us identify stocks that outperform the market which mostly has a better demand factor for potential further upward move.