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.

Technical Analysis

Global Power Synergy / Technical Analysis

<ul><li>Asian bourses mostly advanced while continued fund inflows and 2Q25 earnings results remained key drivers for the index.</li><li>The index has now rallied strongly for a third consecutive day, driven by heavy buying in blue-chip stocks.</li><li>We expect the index to continue climbing and seal the gap at 1,270 points with further upside potential.</li></ul>

Asian bourses mostly advanced while continued fund inflows and 2Q25 earnings results remained key drivers for the index.The index has now rallied strongly for a third consecutive day, driven by heavy buying in blue-chip stocks.We expect the index to continue climbing and seal the gap at 1,270 points with further upside potential.

Krungthai XSpring Technical Eng. August 7, 2025

Equity Bottom-Up

<ul><li>The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts.</li><li>We recommend adding CENTEL and THANI to the portfolio.</li><li>Selling in banking and retail (CRC) stocks limited the portfolio's average return to +0.38%, underperforming the SET (+0.42%), which was supported by rebounds in large-cap stocks across several key sectors.</li></ul>

The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts.We recommend adding CENTEL and THANI to the portfolio.Selling in banking and retail (CRC) stocks limited the portfolio's average return to +0.38%, underperforming the SET (+0.42%), which was supported by rebounds in large-cap stocks across several key sectors.

KTX Tactical Picks - September 21, 2026 (Eng.)

<ul><li>Most Asian bourses continued to rise, but the SET moved in the opposite direction, declining despite rebounds in DELTA and ADVANC.</li><li>The index retreated to near its previous low of 1,173 points, increasing the risk of a new low and signaling the end of the recent rebound.</li><li>With the index maintaining a lower low, lower high pattern, the downtrend remains intact, and further declines are likely.</li></ul>

Most Asian bourses continued to rise, but the SET moved in the opposite direction, declining despite rebounds in DELTA and ADVANC.The index retreated to near its previous low of 1,173 points, increasing the risk of a new low and signaling the end of the recent rebound.With the index maintaining a lower low, lower high pattern, the downtrend remains intact, and further declines are likely.

Recommendation: Sell on Rises or Hold Cash

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways up, with the resistance at 1,290/1,295 points (10-day EMA) and the support at 1,270/1,262 points.</li><li>In the medium term, the index remains in a downtrend within a rounding-top pattern, within a range of 1,220-1,506 points.</li><li>Investment strategy: Sell on strength until a new technical buy signal emerges.</li></ul>

Technically, the SET Index is expected to move sideways up, with the resistance at 1,290/1,295 points (10-day EMA) and the support at 1,270/1,262 points.In the medium term, the index remains in a downtrend within a rounding-top pattern, within a range of 1,220-1,506 points.Investment strategy: Sell on strength until a new technical buy signal emerges.

<ul><li>Technically, the SET Index is expected to rise, with the resistance at 1,360/1,364 points and the support at 1,343/1,338 points.</li><li>Investors are recommended to start speculative buying with a stop-loss point at 1,343 points.</li><li>The focus should be on large cap stocks tied to domestic consumption, such as CPALL, CRC, CPAXT, ADVANC, and INTUCH.</li></ul>

Technically, the SET Index is expected to rise, with the resistance at 1,360/1,364 points and the support at 1,343/1,338 points.Investors are recommended to start speculative buying with a stop-loss point at 1,343 points.The focus should be on large cap stocks tied to domestic consumption, such as CPALL, CRC, CPAXT, ADVANC, and INTUCH.

United States

California Resources Corporation is an independent oil and natural gas company. The Company focuses on maximizing the value of land, mineral and technical resources for decarbonization by developing carbon capture and storage and other emissions reducing projects. California Resources serves customers in the State of California.

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California Resources (CRC US)

Krungthai XSpring Technical Eng. August 7, 2025

Asian bourses mostly advanced while continued fund inflows and 2Q25 earnings results remained key drivers for the index. The index has now rallied...

Krungthai XSpring

KTX Tactical Picks - September 21, 2026 (Eng.)

The KTX Tactical Picks portfolio is constructed by KTX, with investments limited to securities covered by at least four analysts. We recommend...

Krungthai XSpring

Recommendation: Sell on Rises or Hold Cash

Most Asian bourses continued to rise, but the SET moved in the opposite direction, declining despite rebounds in DELTA and ADVANC. The index...

Krungthai XSpring

World Market Summary

Technically, the SET Index is expected to move sideways up, with the resistance at 1,290/1,295 points (10-day EMA) and the support at 1,270/1,262...

Krungthai XSpring

Today's Dominant Ideas

Technically, the SET Index is expected to rise, with the resistance at 1,360/1,364 points and the support at 1,343/1,338 points. Investors are...

Krungthai XSpring

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