Date: 30 September 2024
Broker: UOB Kay Hian
Company Overview
Thai Beverage Public Company Limited (THBEV SP) is a leading beverage company in Thailand, with a focus on producing and distributing a wide range of alcoholic and non-alcoholic beverages. The company is a major player in the Thai market, and its products also have significant international reach.
Trading Information
- Current Price: S$0.530
- Target Price: S$0.580
- Protective Stop: S$0.510
- Recommended Action: Trading BUY
Technical Indicators
- Trend Analysis: Thai Beverage’s stock price is trading above the Ichimoku cloud, indicating that the uptrend remains intact. The conversion and base lines are in a bullish crossover, which is a positive signal for further price increases.
- MACD: The Moving Average Convergence Divergence (MACD) is in bullish territory, with a bullish crossover likely. This further supports the potential for the stock price to move higher.
Price Target and Timeframe
The potential upside target is set at S$0.580, with a protective stop at S$0.510. The expected timeframe for this trade idea is 1-2 weeks, depending on whether the stock hits the entry price range within three trading days.
Institutional Research
The institutional research by UOB Kay Hian supports a fundamental BUY recommendation, with a target price of S$0.56 for the stock.
Source: UOB Kay Hian, 30 September 2024
