My Watchlist [42]: Y92 (dtd 20/1/24)

Hi everyone! I’m back after a break. Today we’ll look at another SGX-listed company:

ThaiBev (SGX: Y92)

The stock has been trading in a falling wedge pattern for the past 8 years with lower highs and lower lows, while also maintaining a longer-term trend of higher highs and lows. Interestingly enough, it hit the 1.618 Fib extension near 1.05, if we assume the swing high to be 0.71 (the first significant swing move up) and the swing low to be 0.16.

Every time the stock has hit the lower trendline, I note that there is some extent of accumulation taking place (refer to volume “boxes”). In this case, there is also some bullish divergence taking place. Another observation worth noting is that Y92 has retraced about 61.8% of its move. In the current market, downside moves have been stretched to the 50%/61.8%/78.6% Fib retracements more often than not.

Given that Y92 has been consolidating for years, we can expect a powerful move higher once the stock breaks out of the falling wedge. I have indicated the upside targets in the monthly chart above.

Sentiment: BUY

Summary (with Price Targets - NFA):

• Falling wedge consolidation pattern with bullish divergence forming and accumulation taking place at current levels, measured move would be to 0.675 (Apr’23 levels), 0.725 (Jan’23 levels), all the way up to the prior high of 1.05 (and higher)

• This move is likely to take several years, given the nature of SGX-listed stocks - however, if you’re content to wait for 1/2 a decade or more, then this might be a stock worth considering

That’s all for SGX-listed stocks for now! I’ll take a look at few more in the coming days :)

$ThaiBev(Y92.SI)$ $Straits Times Index(STI.SI)$ $SPDR S&P 500 ETF Trust(SPY)$ $Apple(AAPL)$ $Tesla Motors(TSLA)$ $HSI(HSI)$

@TigerStars @TigerEvents @TigerWire @CaptainTiger @MillionaireTiger