SET Skyrockets 26pts, Analysts Warn of Profit-Taking Session in the Afternoon!

SET Skyrockets 26pts, Analysts Warn of Profit-Taking Session in the Afternoon!

SET Index closed the morning session on November 23 at 1,415.82 points, increased 26.48 points or 1.91% with a trading value of 60 billion baht. During the session, the index rose as much as 30 points to a session high at 1,420.89 points.

 

KTB Securities (Thailand) (KTBST) stated that a rise in today’s session reflected the fund inflow as negative doctors in the country started to ease, while various companies reported development in their coronavirus vaccine, raising hopes to the market.

The market also lowered concerns over the Bank of Thailand’s measures to curb Thai baht, as the central bank stated that the measure would not limit fund inflow to the stock market.

As for the afternoon session, KTBST stated that the market could face profit-taking, but the overall outlook would remain high, giving a support level at 1,410 points and a resistance level at 1,436 points.

 

Krungsri Securities (KSS) stated before the November 23 session that the market would continue to edge higher due to the fund inflow from Foreign Investors. However, KSS warned that the index is at risk of a downside, especially to negative factors, after a high jump of 200 points within three weeks, while PER also rose to +2.3SD of its three years historical trading.

 

Asia Wealth Securities (AWS) still recommended investing for short-term speculation or investors who hold stocks in the past 1 – 2 weeks, recommending gradually to take profit from some stocks to reduce the risk of market fluctuation.

 

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