Today's reports

Tags: VCOM

Upside limited by a sell-off ahead of a long weekend

Market outlook & strategy
Concerns over omicron have eased as those who test positive (and are fully vaccinated) have only mild symptoms. However, sentiment will plunge if Thailand discovers its first confirmed case, so upside is still limited. The market will be pulled down by a sell-off ahead of the long weekend. We assign resistance at 1,600-1,610 and support at 1,575-1,580. Tactically, we recommend accumulating global and reopening plays for 25% of the portfolio when the market meets our criteria.

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Company analysis
VCOM  – 3Q21: Weaker QoQ as expected –  Neutral