Volumes rally, prices stay at resistance level
Volumes rally, prices stay at resistance level
Vientiane:Liquidity for the week was again strong in the Lao LSX stock exchange.
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As at Friday turnover increased 141.49 percent and volumes were up 131.68 percent when compared to the previous week. The week on week turnover comparison was US$237K compared to US$98K last week. Volumes gained week on week from 172K to 398K.
The two local stocks are in a unique position. Both stock prices remain at a four month support and resistance pattern.
But they are hitting the ceiling as they have failed to break through the resistance barrier.
All the technical indicators support a rise but traders have managed to finesse volume trades at current prices.
LSX Friday: Finicky and patchy trading greeted yesterday's opening sessions, turning over US$1,277 and US$2,662 respectively.
EDL-Gen in a mixed day lost a total of 50 kip in those sessions and the index lost 11 points as a result on just 2.2K shares. BCEL yesterday resumed at 6,900 kip.
The halfway close at 10 am saw 20.7K EDL-Gen shares, as it reclaimed earlier losses, trading at a bargain 4,400 kip turning over US$8,800.
The next session saw investors short the EDL-Gen stock price for an irresistible 4,350 kip for 7,251 shares. That's where the stock price remained until the close.
vientiane times
