On Monday, Asia Plus Securities expects the Thai market to trade sideways with volatility, as there are downward pressures from the Middle East war, and surging oil prices from the uncertainty of shipping through the Strait of Hormuz.
For this week, the brokerage firm recommends investors closely monitor the Federal Reserve meeting to gauge the economic and policy rate directions, as well as the selection of Thailand’s new Prime Minister.
The securities firms set a resistance level for the SET Index at 1,430 points and a support level at 1,380 points for today’s session.
Kingsford Securities set a resistance level for the SET Index at 1,420 – 1,430 points and a support level at 1,380 – 1,400 points for today’s session, forecasting the Thai market to potentially consolidate as investors assess the situation in the Middle East, oil prices, and major central bank meeting results.
The analyst house recommends investors accumulate stocks with value theme that has declined such as ADVANC, TRUE, KBANK, SCB, KTB, CPAXT, and GULF, as well as speculate on alternative energy sector including BBGI, VPO, APO, and UBE.
Last Friday, Thailand’s SET Index closed at 1,409.35 points, decreased 20.45 points or 1.43%, with a trading value of THB 60.44 billion.
