Buy on weakness and hold already-have position

Strategy: The SET rebounded. However, we believe the gain is just temporary after the index decreased quite sharply earlier. Moreover, there are concerns over a Fed rate hike and a Brexit from the EU. Given that, FSS expects upside to be quite limited and there is still risk
that the SET will fall. Moreover, we maintain our call for investors to buy on weakness and hold the already-have position.

Technical stocks: LPH, MONO, ROBINS(short)

Market direction: Yesterday, the SET continued to rebound, particularly in the afternoon, even though there was selling when the index increased in the morning that pressured it to be volatile and move within narrow range. Specifically, there was support from buying in bank and ICT shares because they were quite inexpensive. Meanwhile, energy shares were steady after global crude continued to recover, waiting for U.S. weekly oil inventory that was due out in the evening. As it happened, the EIA revealed that U.S. oil stockpiles dropped more than expected, sending crude price to surge by nearly 2%. This has provided support for both U.S. and European equity markets to end higher. What's more, there was catalyst from the news that the IMF and the eurozone finance ministry had approved a new loan to Greece. This morning, although most Asian stock markets continued to open higher, the gain was smaller. In addition, there began to be selling that pressured many markets to be volatile. Looking ahead, FSS believes investors will continue to keep an eye on a Fed rate hike (on June 14-15) and a Brexit (on June 23). For this reason, the SET's upside should be limited and investors must watch out for selling that will pressure the market to be volatile and retreat.

Support 1395-1390, 1386-1376
Resistance 1399-1401 , 1403-1406

Source: fnsyrus.com / settrade.com