“Trinity” looks at stocks in June. Side provides 2 support levels around 1500 and 1470 points, 1470 points is stable. while the resistance at 1570-1600 points in the first half of the month is likely to be better than the second half, recommending 11 stocks in banking, consumer finance and consumer groups
Mr. Nuttachat Makmasin, Assistant Managing Director of Securities Analysis Department Trinity Securities Company Limited revealed the direction of the investment in June 2023 for the picture of the Thai stock market in June. It is expected to turn sideways by looking at 2 support levels: 1500 points and 1470 points. The 1470 point is considered an important support because it is a level similar to the 1.4x forward PBV, which was usually in the past. level the SET index was quite Stable. On the other hand, look at 2 levels of resistance in the area of 1570 and 1600 points respectively, with level 1600 being an unlikely level. As this is the appropriate index level in our best case (Bull case), based on forward PE at 14.2xa 2024E EPS level at 113 baht.
Assessing the picture of the stock index in the first half of the month is better than the second half of the month. Considering that investors are likely to start pricing in the possibility that the Fed will hold interest rates at its meeting on June 13-14, we still have the same view that there is a high probability that this will happen in an upward direction from inflation which has weakened significantly recently and came out to send more dovish signals from various Fed directors. But after the FOMC meeting is over. It can see profitable sales pressure or Sales on fact happening
Strategically, it is recommended to use the up-sell-to-buy strategy in accordance with the defined resistance support framework. The recommended stocks for this month are: 1. Bank groups that are likely to benefit from the upward interest cycle, namely BBL, KBANK, SCB 2. Consumer finance groups that benefit from the rate hike policy minimum wage. This will increase grassroots spending capacity and debt repayment, namely SAWAD, MTC, TIDLOR. 3. Groups based on the consumption sector that still see good movement AND also gain net benefits from the increase in the minimum wage, namely BJC, MAKRO, CRC, GLOBAL, DOHOME.