On Wednesday, the S&P/ASX 200 Index (ASX: XJO) was out of form and recorded another small decline. The benchmark index fell 0.1% to 8,198.2 points.

Will the market be able to bounce back from this on Thursday? Here are five things to watch:

ASX 200 expected to edge higher

The local market looks set to edge higher on Thursday following a relatively positive night on Wall Street. According to the latest SPI futures, the ASX 200 is expected to open the day 5 points higher this morning. In the United States, the Dow Jones was up 0.1%, the S&P 500 was flat, and the Nasdaq rose 0.1%.

Sell Guzman y Gomez shares

Guzman Y Gomez Ltd (ASX: GYG) shares could be seriously overvalued according to analysts at Goldman Sachs. This morning, the broker has initiated coverage on the quick service restaurant operator's shares with a sell rating and $33.20 price target. This implies potential downside of 16%. It believes it has "a stretched valuation that has, inappropriately in our view, been pegged to the highest growth US-peers without taking into consideration the market differences and risks associated with an accelerated store expansion."

Oil prices rise again

ASX 200 energy shares Beach Energy Ltd (ASX: BPT) and Santos Ltd (ASX: STO) could have another good session after oil prices stormed higher again overnight. According to Bloomberg, the WTI crude oil price is up 1.7% to US$70.99 a barrel and the Brent crude oil price is up 1.6% to US$74.71 a barrel. This was driven by concerns over events in the Middle East.

Gold price falls

ASX 200 gold shares Newmont Corporation (ASX: NEM) and Northern Star Resources Ltd (ASX: NST) could have a subdued session after the gold price pulled back overnight. According to CNBC, the gold futures price is down 0.4% to US$2,680 an ounce. Traders appear to have been taking profit off the table following a decent gain.

Buy Collins Foods shares

Collins Foods Ltd (ASX: CKF) shares are in the buy zone according to analysts at Goldman Sachs. It has initiated coverage on the KFC restaurant operator with a buy rating and $10.00 price target. This implies potential upside of 16% for investors. Its analysts "consider Collins outlook to be incrementally more positive." This is thanks to "improved discretionary spending in Collins key states" and the "potential for increased Digital sales penetration as kiosks are more aggressively rolled out."