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Volumes rally, prices stay at resistance level
Vientiane:Liquidity for the week was again strong in the Lao LSX stock exchange.
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
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