UOB Kayhian

The share price of Nex Point Public Company Limited (SET: NEX) jumped ฿2.80/share or 20.29% to ฿16.60/share with the sixth highest trading value of 1,090 million baht as of 16:16 local time in Thailand on December 13, 2021. Mr. Kitpon Praipaisarnkit, Director of Strategist Department of UOB Kay Hian Securities (Thailand), stated that the surge in NEX’s share price was due to a speculation on the announcement of Energy Absolute Public Company Limited (SET: EA) in launching its new battery factory which is another successful step toward electric vehicle era. The partnership with EA will help in its delivery of EV buses as the company is a producer of EV buses for the Bangkok Mass Transit Authority (BMTA). Mr. Kitpon Praipaisarnkit noted that the surge in share price should be the opportunity for profit taking, giving a support level at THB15.10-13.90 and a resistance level at THB16.60-18.00 per share.