Thailand SET Index (NYSEARCA:THD): The SET Index May Pull Back If It Can't Break Above Key Trendline Resistances

 


The Thailand SET index has been trending down since Jan 9, along with its relative strength (RS) between MSCI Thailand and MSCI EEM (Emerging Markets). Since the reopening announcement by the Chinese government in early January, foreign investors have piled into Chinese stocks. If the trend continues, the SET index could continue to be stuck under its key trendline resistance at around 1,690 or pull back to retest the 1,667.26 level.

Also, keep an eye on the Thai general elections on May 7, even though it is still a few months away. The timing of the elections are coincidentally happening with a well-known saying in finance, "Sell in May and Go Away!".

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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