Looking for your next big trade opportunity?

These 3 Thai stocks are breaking out of key levels and showing strong momentum, making them prime candidates for massive gains. Whether it's the power-packed energy sector, the booming telecommunications market, or the thriving electronics industry, these Thai giants are positioned to ride the wave of growth in 2024.

In this article, we’ll dive deep into the technical and uncover how you can capitalize on these bullish trends. Don’t miss your chance to stay ahead of the curve and make your next winning trade!

1) Gulf Energy (GULF.BK)

Gulf Energy is one of Thailand’s largest power producers, heavily involved in gas-fired power generation as well as renewable energy. The company has established itself as a key player in Thailand’s energy sector, continuing to expand its portfolio of clean energy projects.

Technically, GULF has shown impressive strength, especially after breaking out above the THB 50 (SGD $1.95) support level. This level, which was previously a strong resistance, is now acting as a key support, with buyers stepping in on any dips.

The 20-day moving average is sloping up steeply, indicating that short-term momentum remains very much on the bullish side.

On the upside, GULF has already cleared the next significant resistance level at THB 55 (SGD $2.14), suggesting that there is more room to climb.

The next target would be around THB 60 (SGD $2.34), where we could see some profit-taking and consolidation.

A further break above this level could drive prices higher toward the psychological THB 65 (SGD $2.54), a strong resistance where sellers may emerge.

So how does one take a position in Gulf Energy from the SDR traded on the SGX?

Well, you can take a position in this SDR, which is named Gulf TH SDR (TGED), currently priced at S$2.30.

For those looking to enter, a more conservative approach would be to wait for a potential pullback toward THB 55 (SGD $2.14), where the previous resistance has now turned into support.

Alternatively, a more aggressive entry could be made on any continuation above THB 60 (SGD $2.34), provided there is strong volume confirming the breakout.

As always, a stop loss can be set slightly below THB 55 (SGD $2.14) to manage downside risk, especially if the stock fails to hold above this level.

2) Advanced Info Service (ADVANC.BK)

Advanced Info Service is Thailand's largest telecommunications company, dominating the mobile service market. It provides a range of mobile, internet, and digital services, making it a critical player in Thailand’s digital infrastructure.

From a technical perspective, ADVANC has been in a strong uptrend over the past few months, with prices steadily climbing from the low THB 220 (SGD $0.86) levels back in June.

This momentum has carried the stock higher, and it is now trading firmly above its key moving averages.

Currently, ADVANC is holding well above the THB 250 (SGD $0.97) support level, which had previously acted as a significant resistance before the stock managed to break above it in August.

The 20-day moving average is still sloping upwards, indicating that short-term momentum remains intact, and any dips toward THB 250 (SGD $0.97) could present a good entry point.

On the upside, the next key resistance comes in at THB 280 (SGD $1.09). If ADVANC can continue to push higher and close above this level on strong volume, we could see further upside toward the THB 300 (SGD $1.17) psychological resistance.

This level would likely be a point where some profit-taking could occur, as it marks a significant target for traders.

So how does one take a position in ADVANC from the SDR traded on the SGX?

Well, you can take a position in this SDR, which is named Advanced Info Service (TADD) currently priced at S$1.05.

For those considering an entry, a pullback toward THB 260 (SGD $1.01) or THB 250 (SGD $0.97) support would offer a more conservative option. Alternatively, a more aggressive entry could be considered on a confirmed breakout above THB 280 (SGD $1.09).

As always, it would be wise to set a stop loss below THB 250 (SGD $0.97) to manage downside risk in case the stock fails to hold these levels.

Note that for ADVANC, there is a ratio of 10 SDR to 1 underlying stock, so the conversion from Thai baht to SGD will be to times 0.039 then divided by 10.

3) Delta Electronics (DELTA.BK)

Delta Electronics is Thailand's largest electronics company, and a major player in manufacturing power management solutions and renewable energy products.

It is also benefiting from structural trends like electric vehicle adoption and the expansion of data centers globally.

From a technical standpoint, DELTA has been in a steady uptrend, with the stock finding strong support around the THB 100 (SGD $3.90) level. This area has previously acted as a psychological barrier, but after a strong breakout in August 2024, it now serves as a key support level.

The price is currently holding above the 20-day moving average, which is pointing upwards, suggesting that the short-term trend remains intact.

On the upside, DELTA is approaching a key resistance at THB 120 (SGD $4.68). A break above this level would signal more upside potential, with the next target being THB 140 (SGD $5.46).

This region could see some profit-taking given the psychological importance of the 140 level, but with strong momentum, further gains are possible if the breakout is confirmed by high volume.

So how does one take a position in Delta Electronics from the SDR traded on the SGX?

Well, you can take a position in this SDR, which is named Delta TH SDR (TDED) currently priced at S$4.19.

For a more conservative entry, traders could wait for a pullback toward THB 100 (SGD $3.90) for a potential rebound.

Alternatively, a more aggressive approach could be taken on a breakout above THB 120 (SGD $4.68), with stop loss levels placed below THB 100 (SGD $3.90) to manage downside risk.

Footnote: Currency conversion used from THB to SGD is 0.039.

About the Author - Joey Choy

Joey is Singapore’s renowned mentor on how to make an income by trading the stock market, an author and one of the most-watched, quoted and followed stock trading trainers in Singapore. Over the years, he has conducted numerous full house seminars, enriching thousands to trade more profitably. 

Joey’s come back story from a S$740k debt has been featured in the Business Times and inspired thousands in Singapore. In less than 3 years, he is highly regarded as one of the Top Tier Remisiers (Stock Brokers) and Traders, bagging numerous yearly awards like Top Trading Representative and Top CFD Achiever every year from 2014 to 2023 in Phillip Securities.

More about Joey here

Hope you have found the above content useful 😃 

If you have yet to attend my FREE webinar on how I select HIGH PROBABILITY WINNING STOCKS, you can check it out here!

Look forward to see you on the inside!

- Joey

Disclaimer and Warning
This publication is provided by Trading Impossible Pte Ltd for general information and educational purposes only. Trading Impossible Pte Ltd is NOT licensed or regulated for the provision of investment or financial advice, and we do not seek to do so.
This content has been produced by Trading Impossible Pte Ltd. Singapore Exchange Limited (“SGX”) and/or its affiliates (collectively with SGX, the “SGX Group Companies”) have not had any input into this publication and/or the content, and SGX shall not be responsible or liable for the same. This document/material is not an offer or solicitation to buy or sell, nor financial advice or recommendation for any investment product. This document/material has been published for general circulation only. It does not address the specific investment objectives, financial situation or particular needs of any person. Advice should be sought from a financial adviser regarding the suitability of any investment product before investing or adopting any investment strategies. Use of and/or reliance on this document/material is entirely at the reader’s own risk. Trading Impossible Pte Ltd shall not be liable for any loss arising from any investment based on any perceived recommendation, forecast, or any other information contained here. Investment products are subject to significant investment risks, including the possible loss of the principal amount invested. Past performance of investment products is not indicative of their future performance. Any forecast, prediction or projection in this document/material is not necessarily indicative of the future or likely performance of the product. Examples (if any) provided are for illustrative purposes only. This document/material is not intended for distribution to, or for use by or to be acted on by any person or entity located in any jurisdiction where such distribution, use or action would be contrary to applicable laws or regulations or would subject the SGX Group Companies to any registration or licensing requirement. While each of the SGX Group Companies have taken reasonable care to ensure the accuracy and completeness of the information provided, each of the SGX Group Companies disclaims any and all guarantees, representations and warranties, expressed or implied, in relation to this document/material and shall not be responsible or liable (whether under contract, tort (including negligence) or otherwise) for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind, including without limitation loss of profit, loss of reputation and loss of opportunity) suffered or incurred by any person due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information, or arising from and/or in connection with this document/material. The information in this document/material may have been obtained via third party sources and which have not been independently verified by any SGX Group Company. No SGX Group Company endorses or shall be liable for the content of information provided by third parties (if any). The SGX Group Companies may deal in investment products in the usual course of their business, and may be on the opposite side of any trades. Each of SGX, Singapore Exchange Securities Trading Limited and Singapore Exchange Bond Trading Pte. Ltd. is an exempt financial adviser under the Financial Advisers Act (Cap. 110) of Singapore. The information in this document/material is subject to change without notice. This document/material shall not be reproduced, republished, uploaded, linked, posted, transmitted, adapted, copied, translated, modified, edited or otherwise displayed or distributed in any manner without SGX’s prior written consent. Please note that the general disclaimers and jurisdiction specific disclaimers found on SGX’s website at http://www.sgx.com/terms-use are also incorporated into and applicable to this document/material.