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Tuesday, May 11, 2021

SET Index (.SETI) Expect the Index to Fluctuate Between 1,355 and 1,370

$SETI #Thailand #SET #Index #Stocks #TASCO #STA #INTUCH #TTW #ACE #BCH #SIRI #CHG

The stock exchange of Thailand (SET) Index rose by 6.51 points, or 0.48 per cent, to 1,368.97 in the morning session on Thursday (July 9).

Shayne Heffernan, CEO and Founder expected the index to fluctuate between 1,355 and 1,370 due to an absence of new factors to stimulate the economy.”

The market gained positive sentiment from hopes over the v-shaped economic recovery as the United States, Europe and China economic data rose considerably last month and there was speculation in stocks whose second-quarter performance, was expected to point out big improvement,” the Shayne Heffernan said.”

However, the market would be under pressure from uncertainty following the Covid-19 outbreak, as the number of recent cases in the United States continues to increase by more or less 61,000 people per day.”

He suggested that investors buy:

Stocks that benefit from the weakening baht, such as TASCO, STA, INTUCH, TTW, ACE, BCH, SIRI and CHG.

Stocks whose second-quarter performance will improve, such as TOP, PTTGC, SPRC, BGRIM, CKP, TASCO, STA and SPALI.

The stock exchange of Thailand (SET) Index fell 10.76 points or 0.78 per cent, closing at 1,362.46 on Wednesday (July 8). Total transactions stood at Bt66.274 billion with an index high of 1,379.71 and a low of 1,361.24.

Technical Indicators

Overall, the bias in prices is: Upwards.

The projected upper bound is: 1,415.40.

The projected lower bound is: 1,319.95.

The projected closing price is: 1,367.68.


A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 23 white candles and 27 black candles for a net of 4 black candles.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Three black candles occurred in the last three days. Although these candles were not big enough to create three black crows, the steady downward pattern is bearish.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 53.4582. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 54.11. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 21 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 47. This is not a topping or bottoming area. The last signal was a sell 1 period(s) ago.


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 2 period(s) ago.

Rex Takasugi – TD Profile

SET Index closed up 3.350 at 1,365.810. Volume was 7% above average (neutral) and Bollinger Bands were 68% narrower than normal.

Open        High        Low        Close        Volume
1,367.240   1,370.800   1,358.030  1,365.810    16,921,408,512
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bearish
Long Term:         Bearish
Moving Averages: 10-period       50-period        200-period
Close:           1,352.23        1,337.37         1,443.53
Volatility:      13              23               37
Volume:          16,567,961,600  17,140,838,400   17,133,357,056

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.


SET Index is currently 5.4% below its 200-period moving average and is in an downward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.

Our volume indicators reflect volume flowing into and out of .SETI at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on .SETI and have had this outlook for the last 10 periods.

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