Technical stocks: BLA, AUCT, GL(short)
Market direction: Last week, the SET swung wildly within 1360-1400 after the index has increased by over 100 points in the last three weeks. Such gain was partly made possible by investors' expectation over the ECB's additional economic measures. As it happened, the results did not surprise the market much. Given that, investors must be cautious over selling which will pressure the SET to fall, which will serve as an opportunity to buy. Although it is possible that the Fed will delay a rate hike in the middle of this week (i.e. March 15-16), which might support the market to continue to rally, FSS maintains our call for investors to exercise caution over profit taking after the market has rallied quite strongly. This morning, investment sentiment abroad continues to be bright after both U.S. and European equity markets ended higher late last week following the ECB's additional economic measures and a recovery in global crude after data point to a supply cut. However, most Asian stock markets did not open sharply higher. Hence, FSS expects the SET to see limited upside and there might be selling that will pressure the index to fall.
Support 1390-1385 , 1380-1376
Resistance 1395-1398 , 1400-1402
Source: fnsyrus.com / settrade.com
