Wednesday, 8 January 2014

STAMFORDTYRES BULLISH SPIKE $0.435 ~ SOMETHING BREWING GIVEN MARRIED DEAL ON MONDAY@$0.45 ~

Global rubber consumption will grow at an average of 3.5 percent a year through 2018 as demand increases for replacement tires, supporting prices of the commodity, according to LMC International Ltd.
“Looking forward to 2018, we’re expecting a pickup in tire demand,” Gerard Stapleton, head of Southeast Asian research for LMC, said in an interview in Kuala Lumpur yesterday. “That’s going to support the rubber market.”

We see the potential in StamfordTyres rallying toward 50cents in the near term, resistance will be at around 49 to 50cents range.

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