Continue to rebound but upside is still limited
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Market outlook & strategy
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| We expect the SET to continue its technical rebound supported by short-term factors, i.e., sentiment from 1Q22 corporate results in the US. However, the market still lacks true support and faces a negative factor of stagflation which limits resistances to 1,675–1,685 and supports to 1,655–1,660. We suggest a “Selective Buy” strategy of selecting good-quality defensive stocks with positive drivers to reduce portfolio volatility. |
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Company analysis
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AEONTS
– 4QFY21: Overall in line – Neutral
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BH
– 1Q22: Improving earnings, as expected – Neutral
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CBG
– Expect 1Q22 to fall YoY but grow slightly QoQ – Neutral
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PTTEP
– 1Q22: weaker QoQ but better than expected – Outperform
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