Thai SET impact from covid19 delta and omicron bad omens
BBL ; price plummetted after fear started , when situation got to the worst, price already go up for days, as many can speculate the end of delta wave
at a point, price open gap up, which favor strategy of short and DCA buy back over weeks
gap up 23 aug , dropdown wks=... not quite gap down, more gradual price downtrend, downswing = 9, upswing= 11
kbank ; gap up 23 aug , dropdown wks=4, downswing = 9, upswing= 13
TMB bank (TTB) ; gap up 23 aug , dropdown wks=4, downswing = 17, upswing= 20+ up to now(jan22)
siam cement company (SCC) ; same time gap up but last only 2-3 wks then down for 14 wks, now on uptrend for 4 wks but will see extent of omicron impact
siam cement's paper&packaging company (SCGP) since ipo in 2020 it soared up and up, its theme of online shopping play important role in covid-era. So contradicting price fall
when others went up in late august & start 6 wks downtrend. jan 2022 might start another down trend, as we already had 13 uptrend candles (TD sequential 13)
but will SCGP be seen as covid-defensive stock might limit its downside
From my humble, non-expert, nooby personal opinion, Thai's bluechip stocks could be in danger of omicron impact.
Fundamentally ; afternoon of 5th Jan 2022, SET start falling, without apparent drop but retrospectively ,we guessed insider who seen omicron rising selling a chunk. 6th is public awareness of both us interest rate amped up & earning yield gap in downtrend, Thailand’s institutional side sells twice as much as foreign investor with 3x local investor buying the SET at 1660.
growth of income/profit from SET100/SET50 depends on both domestic economy & tourism alike which both of which would be crippled by this covid19's wave
Technically ' Thai's SET50 index plummetted 8 of last 8 times it hit resistance/support of 979- 999.
at a point, price open gap up, which favor strategy of short and DCA buy back over weeks
gap up 23 aug , dropdown wks=... not quite gap down, more gradual price downtrend, downswing = 9, upswing= 11
kbank ; gap up 23 aug , dropdown wks=4, downswing = 9, upswing= 13
TMB bank (TTB) ; gap up 23 aug , dropdown wks=4, downswing = 17, upswing= 20+ up to now(jan22)
siam cement company (SCC) ; same time gap up but last only 2-3 wks then down for 14 wks, now on uptrend for 4 wks but will see extent of omicron impact
siam cement's paper&packaging company (SCGP) since ipo in 2020 it soared up and up, its theme of online shopping play important role in covid-era. So contradicting price fall
when others went up in late august & start 6 wks downtrend. jan 2022 might start another down trend, as we already had 13 uptrend candles (TD sequential 13)
but will SCGP be seen as covid-defensive stock might limit its downside
From my humble, non-expert, nooby personal opinion, Thai's bluechip stocks could be in danger of omicron impact.
Fundamentally ; afternoon of 5th Jan 2022, SET start falling, without apparent drop but retrospectively ,we guessed insider who seen omicron rising selling a chunk. 6th is public awareness of both us interest rate amped up & earning yield gap in downtrend, Thailand’s institutional side sells twice as much as foreign investor with 3x local investor buying the SET at 1660.
growth of income/profit from SET100/SET50 depends on both domestic economy & tourism alike which both of which would be crippled by this covid19's wave
Technically ' Thai's SET50 index plummetted 8 of last 8 times it hit resistance/support of 979- 999.