Sawasdee – April 20, 2022
Technical recovery on positive sentiment from US markets |
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| Market outlook & strategy | ||||
| The SET is expected to make a technical recovery, bolstered by positive sentiment from recovery in US markets. However, the SET still lacks support factors and faces negative economic factors, stagflation and tightening monetary policy, which limits upside with a resistance range between 1,683-1,693 and supports at 1,672 and 1,655. We suggest a “Selective Buy” strategy of selecting good-quality defensive stocks with positive drivers to reduce portfolio volatility. | ||||
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| Industry analysis | ||||
| Petrochemicals – Uptick in naphtha cost hurt product spread | ||||
| Company analysis | ||||
| GULF – Entering digital securities exchange business – Outperform | ||||
| KKP – 1Q22: Beat on lower provisions – Outperform | ||||
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