Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities, stated during the “Kaohoon” program on October 20, 2026, that the Thai stock market may move sideways, setting a support level at 1,560 – 1,565 points and a resistance level at 1,590 points. The analyst highlights the banking sector’s potential to support the market recovery following relatively strong third-quarter 2026 earnings results.
However, investment sentiment remains under pressure from overseas stock market trends, particularly in Japan, Taiwan, South Korea, and Hong Kong, which have moved downward. This is coupled with selling pressure in the domestic market, while political volatility in France adds further pressure.
Regarding individual stocks of interest, Mr. Suchet highlighted PR9, with support estimated at THB 19 and resistance at THB 20. TIDLOR is showing improved price movement signals, with support set at THB 16.60 and resistance at THB 17 – 17.50.
For TU, there is an opportunity for a short-term recovery or technical rebound, with support estimated at THB 12.20 and resistance at THB 13. JMART has shown continuous gains over the past 3 – 4 days, with potential to test THB 12, while support stands at around THB 10.
By sector, Mr. Suchet emphasized commercial banks as the primary group capable of driving a Thai stock market recovery, particularly after KKP reported solid third-quarter 2026 earnings. This gives the stock potential to advance from around THB 114 to test its previous high of THB 117, with room to reach THB 120.
KBANK continues to show a prominent trend, with upside potential to test the 240 – 250 baht range, while KTB carries a target of THB 45. The three bank stocks—KKP, KBANK, and KTB—are viewed as having potential to support a partial recovery in the Thai stock index.
For the finance and credit sector, Mr. Suchet noted early signs of recovery, particularly for MTC, which has begun moving higher. Meanwhile, SAWAD has potential to test THB 25, and TIDLOR has a recovery target near THB 20.
Regarding KTC, a price of around THB 30 is viewed as an attractive entry point, with key resistance at THB 35. If broken, the stock could test THB 38 and potentially reach THB 40. However, price volatility remains present in finance stocks, warranting investment caution.
In the tourism sector, price movements have shown positive signs, particularly CPN and CRC. Both are viewed as standout stocks with potential for continued upside, with CRC specifically seen as having room to test THB 35.
For MINT, although the price level around THB 20 appears attractive for speculative recovery trading, upside gains remain constrained with resistance set at THB 22. A break above this level could test THB 25 and THB 28, respectively. However, reaching THB 25 remains relatively difficult in the short term.
As for ERW, the stock remains worth monitoring, though a higher weighting is given to Central Group stocks due to their superior price performance trends.
In the healthcare sector, Mr. Suchet noted renewed investor interest, particularly in BDMS, PR9, and BH. Given their increasingly prominent price action, close monitoring of these stocks is recommended.
Additionally, in the telecommunications sector, Mr. Suchet continues to recommend accumulating both ADVANC and TRUE. ADVANC’s stock price around THB 330 remains attractive relative to a target of THB 380, while TRUE’s target is estimated at THB 14.50 – 15.
However, neither telecom stock has shown clear price recovery signals yet, making them more suitable for gradual accumulation than short-term speculation, as 3Q26 earnings results may be required as a catalyst.
