The Stock Exchange of Thailand (SET) Index made a high jump at the open, rebounding from a decline in yesterday’s session that was affected by a profit-taking selloff and a downturn in DELTA.
SET rose 20.05 points or 1.34% to 1,512.41 points at the open on Thursday, January 7, 2021, making a recovery from a plummet of 14.29 points yesterday. The analyst stated that the Thai stock market was volatile due to the profit-taking selloff in the power-generation stocks. Yesterday, SET put DELTA in a “cash balance” measure, causing the share price to plunge 13.41%, which impacted the index around 9 points.
Asia Wealth Securities (AWS) expected the SET today to move in a range of 1,473-1,512 points. The SET Index continues to fluctuate in a sideway up manner after rising but failing to pass significant resistance at 1,510 points again.
For investment strategy, AWS also recommended selling and taking profit at full value or exceed the fundamental value while investing in the new round, AWS recommends investing in a speculative manner by focusing on stocks with specific positive factors, for example, energy stocks (Upstream and Refineries), expected strong 4Q20 earnings stocks and Green Energy expected to buyback after having profit taking yesterday.