On Tuesday, Krungthai XSpring expects the Thai market to move sideways along with the foreign markets’ trend, as oil prices plunge following reports of the partial reopening of the Strait of Hormuz, and the release of oil reserves.
The brokerage firm recommends investors closely monitor the Monetary Policy Committee meeting, which will discuss relief measures for the energy price crisis.
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 1,410 – 1,420 points and a support level at 1,390 – 1,400 points for today’s session, forecasting the Thai market to potentially rebound along due to rallies in U.S. tech stocks. Additionally, investors are assessing the situation in the Middle East, crude oil prices, and the meeting results from major central banks.
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 DELTA, HANA, and KCE due to positive sentiment from U.S. tech stocks.
Yesterday, Thailand’s SET Index closed at 1,405.02 points, decreased 4.33 points or 0.31%, with a trading value of THB 52.54 billion.
