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Thai Baht May Outperform as Tourism Slowly Boosts EconomyThe Thai Baht has been cautiously gaining ground against the US Dollar since December despite recent volatility in stock markets. In fact, USD/THB recently broke under a key rising trendline from early 2021, confirming the breakout. Key support below appears to be the 200-day Simple Moving Average. Tourism is a key component of Thailand's economy, which has been hampered due to the global pandemic. But, as countries around the world gradually move forward with vaccinations and natural immunity, a gradual comeback in local tourism may boost the economy, perhaps setting the Thai Baht on course to outperform in the medium to long term. In the event of a turn higher, critical resistance seems to be the 33.861 - 34.000 resistance zone, where breaking above may open the door to resuming the dominant uptrend. Further Covid-19 variants also risk derailing domestic growth expectations. Clearing the 200-day SMA exposes the November and August lows. In the long run, key below seems to be the 29.718 - 29.842 range.
by QM_Dubrovsky
1
MAKRO | Downtrend Price Rejection | Entry Position & TargetMAKRO | Thailand SET Index | Commerce Sector | Price Action Trading Chart Pattern: Three Drive Falling Wedge Pattern Price Action: Downtrend price rejection candles Indicators: > Multiple banker smart money signals > Banker chip entry signal > BBD Banker bullish divergent crossing up 0 baseline > Fund flow bullish reversal with bottom signal > KDJ Sto turning bullish Risk ratio: 3:1 with 5-7% stop-loss below entry zone Always respect your stop-loss Good Luck
MLong
by dukeposh
Thai SET impact from covid19 delta and omicron bad omensBBL ; 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.
SET:BBLShort
by Omaha19Hush
TTA | Re-entry Point Breakout Falling Wedge 3 Drive PatternTTA | Thailand SET Index | Transportation Sector Target Price 16.00 at Volume Profile POC | Aggressive Stop loss at Falling Wedge downtrend line or conservative SL 11.0. Risk ratio: 3.5 After a sharp declining trend crossing below EMA200 - completing Elliot Wave 2 Grand Supercycle, a possible bullish chart 3 DRIVE PATTERN > Buy position | Re-entry point at Falling Wedge Breakout > Crossing up EMA10 / EMA200 - signal for uptrend > Previously strong Smart Money and Banker Chip signal > Triple bottom of 3 Drive Pattern - a reversal pattern > Q321E expected outstanding financial performance www.kaohoon.com
SET:TTALong
by dukeposh