Sawasdee – December 24, 2020

The SET will dip to 1400 on COVID-19 concerns and foreign funds will exit

Market outlook & strategy
We expect the SET to move down to 1400 again, with a return to at least a partial lockdown damaging sentiment and generating worries about economic recovery. Foreign fund flows are turning to negative, with foreign investors net seller in the SET and opening short positions in SET50 futures for 4 days. We assign resistance at 1430-1440. For strategy, we recommend start accumulating at 1350-1380. Be selective in speculation and set stop-loss.
Industry analysis
Petrochemicals –  Weaker product spread as expected