Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

A full service Thai brokerage

Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,315/1,320 points and the support at 1,297/1,288 points.</li><li>We maintain our recommendation that investors do trading buy, with the profit-taking target at the resistance at 1,330 points.</li><li>Moreover, the Thai economy shows signs of ongoing recovery from the 2Q24 to 4Q24, supported by increased government budget disbursement, improved exports, and industrial production.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,315/1,320 points and the support at 1,297/1,288 points.We maintain our recommendation that investors do trading buy, with the profit-taking target at the resistance at 1,330 points.Moreover, the Thai economy shows signs of ongoing recovery from the 2Q24 to 4Q24, supported by increased government budget disbursement, improved exports, and industrial production.

Weekly Strategy (Trading Buy; Expect Window Dressing)

Macroeconomics

<ul><li>On June 18, 2024, the outcomes of four pivotal political cases will shape the direction of the SET.</li><li>Among these cases, the outcome of the prime minister's dismissal petition is deemed to have the most substantial impact on the capital market.</li><li>These dynamics indicate that the current valuation of the SET may be undervalued, making it oversold.</li></ul>

On June 18, 2024, the outcomes of four pivotal political cases will shape the direction of the SET.Among these cases, the outcome of the prime minister's dismissal petition is deemed to have the most substantial impact on the capital market.These dynamics indicate that the current valuation of the SET may be undervalued, making it oversold.

Four Key Political Cases to Determine the Direction of the SET

<ul><li>Technically, the SET Index is expected to move sideways down, with the support at 1,297/1,288 points and the resistance at 1,315/1,320 points.</li><li>We maintain our view that investors should delay investment until there is a technical reversal pattern.</li><li>We view the current SET Index as worth speculating on for potential rebounds.</li></ul>

Technically, the SET Index is expected to move sideways down, with the support at 1,297/1,288 points and the resistance at 1,315/1,320 points.We maintain our view that investors should delay investment until there is a technical reversal pattern.We view the current SET Index as worth speculating on for potential rebounds.

Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Equity Bottom-Up

<ul><li>Allen highlighted how over the last nine to 10 months, Ethereum has seen significant growth, driven by key developments like its collaboration with Swift, a price approaching its all-time high of ∼$4,800, and substantial institutional adoption from firms like Fidelity.</li><li>This surge is fundamentally a function of utility, with Ethereum hosting ~60% of stablecoins and beginning to see the tokenization of stock and other real-world assets.</li><li>This movement is seen as realizing the blockchain’s potential for global asset movement without intermediaries, similar to how the internet digitized information, a development now accelerating as initial regulatory hurdles ease and capital flows into the space. </li></ul>

Allen highlighted how over the last nine to 10 months, Ethereum has seen significant growth, driven by key developments like its collaboration with Swift, a price approaching its all-time high of ∼$4,800, and substantial institutional adoption from firms like Fidelity.This surge is fundamentally a function of utility, with Ethereum hosting ~60% of stablecoins and beginning to see the tokenization of stock and other real-world assets.This movement is seen as realizing the blockchain’s potential for global asset movement without intermediaries, similar to how the internet digitized information, a development now accelerating as initial regulatory hurdles ease and capital flows into the space. 

BTCS, Inc: CEO Discusses Ethereum’s Progress, BTCS’ Outlook, and US DeFi Ecosystem

<ul><li>We are initiating coverage of BTCS, Inc. (NASDAQ: BTCS), a pioneer in the blockchain technology sector since 2014. BTCS stands for Blockchain Technology Consensus Solutions, which is what it does for Ethereum, not Bitcoin (BTC).</li><li>BTCS is a US-based blockchain technology company focused on blockchain infrastructure, with its primary operations currently focused on the Ethereum network.</li><li>Its core focus is on driving scalable growth through a diverse range of blockchain-focused technological solutions, emphasizing Ethereum infrastructure, including block building and validator node operations.</li></ul>

We are initiating coverage of BTCS, Inc. (NASDAQ: BTCS), a pioneer in the blockchain technology sector since 2014. BTCS stands for Blockchain Technology Consensus Solutions, which is what it does for Ethereum, not Bitcoin (BTC).BTCS is a US-based blockchain technology company focused on blockchain infrastructure, with its primary operations currently focused on the Ethereum network.Its core focus is on driving scalable growth through a diverse range of blockchain-focused technological solutions, emphasizing Ethereum infrastructure, including block building and validator node operations.

BTCS, Inc: Powering the Future of the Decentralized Economy with Ethereum

United States

BTCS Inc. (BTCS) operates as an online retailer that sells various types of merchandise for virtual currencies. The Company offers transaction verification, secured information, digital currency ecosystem, display up-to-date inventory, and management of digital currency wallets services.

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BTCS (BTCS US)

Weekly Strategy (Trading Buy; Expect Window Dressing)

Technically, the SET Index is expected to move sideways up, with the resistance at 1,315/1,320 points and the support at 1,297/1,288 points. We...

Krungthai XSpring

Four Key Political Cases to Determine the Direction of the SET

On June 18, 2024, the outcomes of four pivotal political cases will shape the direction of the SET. Among these cases, the outcome of the prime...

Krungthai XSpring

Chinese Economic Figures the Highlight

Technically, the SET Index is expected to move sideways down, with the support at 1,297/1,288 points and the resistance at 1,315/1,320 points. We...

Krungthai XSpring

BTCS, Inc: CEO Discusses Ethereum’s Progress, BTCS’ Outlook, and US DeFi Ecosystem

Allen highlighted how over the last nine to 10 months, Ethereum has seen significant growth, driven by key developments like its collaboration with...

Water Tower Research

BTCS, Inc: Powering the Future of the Decentralized Economy with Ethereum

BTCS is a US-based blockchain technology company focused on blockchain infrastructure, with its primary operations currently focused on the...

Water Tower Research

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