Thailand SET Index (NYSEARCA:THD): The Thailand SET Index Looks Bullish

 


The Thailand SET index is retesting the trendline resistance at ~ 1,695, and is overbought. A cup and handle chart pattern has emerged.

Since the return of Chinese tourists may already be priced in, the bulls might need to figure out what the next catalyst would be for the SET to break above the trendline resistance, or else be prepared for a pullback to retest the DEC 28 breakout.

A breakout could take the SET to the FEB 2022 high at 1,718 and a trendline resistance around 1,750, respectively.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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