Thailand SET Index (NYSEARCA:THD): Beware Thailand SET index could dive below the 1,300 level

The Thailand SET index breakdown, below the long-term trendline support, is confirmed after the central bank decided on Wednesday to leave their key interest rate unchanged at 2.5%. Beware that foreign investors continue to sell Thai stocks as the relative strength (RS) between MSCI Thailand and MSCI Emerging Markets (EEM) has now broken below the key support level at 1.37. Tighten your seat belts because the next stop for the SET index could be at 1,296.76, or a 30% correction level.

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

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