Last Friday's market: The SET moved in positive territory. Late last week, although there continued to be selling that pressured the index to be volatile due probably to lack of fresh catalyst and investor concern over a Fed rate hike, there was support from a rise in global crude in the afternoon, which made it possible for the SET to hit a new high.
Today's outlook: This morning, Asian stock markets were quite volatile and decreased after both U.S. and European equity markets turned to fall as the lower-than-expected rise in U.S. non-farm payrolls in May triggered investor concern over global economic slowdown. However, that also helps support the hope the Fed will not increase policy rate at a meeting on June 14-15. As a result, there were times that they increased intraday. For Thailand, FSS expects the SET to continue to rally. However, investors must watch out for volatility.
Strategy: For all that mention above, FSS recommends that investors wait to buy on weakness. Moreover, we suggest that investors hold the bet that is already placed to wait for a new round of rallies. Specifically, our index target is at about 1500.
Support 1433-1430, 1426-1422
Resistance 1437-1440 , 1442-1444
Source: fnsyrus.com / settrade.com
