On Wednesday, Asia Plus Securities expects the Thai market to move sideways to sideways-up after the oil prices have decreased to below $85 per barrel, easing energy concerns and bolstering most of the Asia market this morning. However, volatility may persist due to uncertainties surrounding the Middle East war.
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 anticipates the SET Index to consolidate within a support level of 1,380 points and a resistance level of 1,410 –1,420 points, after WTI Futures this morning stabilized at $84 per barrel, easing inflation pressures. However, the analyst firm advises investors to assess the conclusion of the Middle East situation.
The brokerage house recommends investors accumulate ADVANC, TRUE, KBANK, SCB, KTB, and GULF when the index has declined, as these are stocks with the value theme and have high dividend yield.
Yesterday, Thailand’s SET Index closed at 1,405.76 points, increased 22.79 points or 1.65%, with a trading value of THB 68.21 billion.
