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.

Thematic (Sector/Industry)

<ul><li>The SET managed to hold its ground and avoid further losses, supported by rebounds in DELTA, ADVANC, and AOT, which helped lift the index slightly higher.</li><li>Although the index edged up slightly, it successfully nullified the previous black candlestick’s negative signal, allowing it to maintain the higher high, higher low pattern.</li><li>We recommend buying on dips, as the index’s resilience above the 1,313–1,300 support zone should form a solid base and pave the way for a new rebound cycle.</li></ul>

The SET managed to hold its ground and avoid further losses, supported by rebounds in DELTA, ADVANC, and AOT, which helped lift the index slightly higher.Although the index edged up slightly, it successfully nullified the previous black candlestick’s negative signal, allowing it to maintain the higher high, higher low pattern.We recommend buying on dips, as the index’s resilience above the 1,313–1,300 support zone should form a solid base and pave the way for a new rebound cycle.

Krungthai XSpring Technical Eng. October 30, 2025

<ul><li>The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and domestic funds turned net sellers.</li><li>The index declined after a bearish signal from a gravestone doji, retesting the support at 1,313–1,300 points.</li><li>Therefore, we recommend buying on weakness, as we expect the index to experience only short-term consolidation while maintaining a positive price pattern.</li></ul>

The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and domestic funds turned net sellers.The index declined after a bearish signal from a gravestone doji, retesting the support at 1,313–1,300 points.Therefore, we recommend buying on weakness, as we expect the index to experience only short-term consolidation while maintaining a positive price pattern.

Krungthai XSpring Technical Eng. October 29, 2025

<ul><li>Most Asian bourses rebounded ahead of the upcoming Fed meeting and next we see further market movements.</li><li>The index has continued to edge higher, showing clear bullish signals and maintaining a sideways-up trend.</li><li>Nonetheless, we expect the index to rise further and recommend selective speculation, as it has remained above 1,300 points, with blue-chip stocks likely to continue leading the market.</li></ul>

Most Asian bourses rebounded ahead of the upcoming Fed meeting and next we see further market movements.The index has continued to edge higher, showing clear bullish signals and maintaining a sideways-up trend.Nonetheless, we expect the index to rise further and recommend selective speculation, as it has remained above 1,300 points, with blue-chip stocks likely to continue leading the market.

Krungthai XSpring Technical Eng. October 27, 2025

<ul><li>The SET rebounded for the third consecutive day, rising back above the 1,300-point mark for the first time in eight days, even as most Asian markets declined.</li><li>The rebound was led by blue-chip stocks, with sentiment further lifted by foreign investor buying.</li><li>We recommend selective speculation, as trading volume has strengthened and investor focus remains on blue-chip stocks that are likely to stay on the market’s radar.</li></ul>

The SET rebounded for the third consecutive day, rising back above the 1,300-point mark for the first time in eight days, even as most Asian markets declined.The rebound was led by blue-chip stocks, with sentiment further lifted by foreign investor buying.We recommend selective speculation, as trading volume has strengthened and investor focus remains on blue-chip stocks that are likely to stay on the market’s radar.

Krungthai XSpring Technical Eng. October 24, 2025

<ul><li>The SET Index is expected to move sideways today, with the support at 1,280/1,268 and the resistance at 1,300/1,313.</li><li>Domestically, sentiment remains slightly positive following the Cabinet’s approval of the “Travel for Tax Deduction” scheme and stronger-than-expected 3Q25 bank earnings.</li><li>The measures are directly positive for hotel operators (CENTEL, ERW) and indirectly benefit airlines (BA, AAV) and retailers (CPALL, CPAXT, TFG, HMPRO) through stronger domestic tourism and consumption.</li></ul>

The SET Index is expected to move sideways today, with the support at 1,280/1,268 and the resistance at 1,300/1,313.Domestically, sentiment remains slightly positive following the Cabinet’s approval of the “Travel for Tax Deduction” scheme and stronger-than-expected 3Q25 bank earnings.The measures are directly positive for hotel operators (CENTEL, ERW) and indirectly benefit airlines (BA, AAV) and retailers (CPALL, CPAXT, TFG, HMPRO) through stronger domestic tourism and consumption.

Krungthai XSpring Zoom Eng. OCTOBER 22, 2025

Thailand

CP Axtra Public Company Limited operates a retail discount store chain. The Company sells food and consumer products to its registered customers including wholesalers, retailers, small businesses, caterers, and private individuals who hold its member cards. CP Axtra serves customers in Thailand.

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CP Axtra (CPAXT TB)

Krungthai XSpring Technical Eng. October 30, 2025

The SET managed to hold its ground and avoid further losses, supported by rebounds in DELTA, ADVANC, and AOT, which helped lift the index slightly...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 29, 2025

The SET attempted to extend its rebound, rising early in the session but ultimately succumbing to selling pressure as both foreign investors and...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 27, 2025

Nonetheless, we expect the index to rise further and recommend selective speculation, as it has remained above 1,300 points, with blue-chip stocks...

Krungthai XSpring

Krungthai XSpring Technical Eng. October 24, 2025

The SET rebounded for the third consecutive day, rising back above the 1,300-point mark for the first time in eight days, even as most Asian...

Krungthai XSpring

Krungthai XSpring Zoom Eng. OCTOBER 22, 2025

Domestically, sentiment remains slightly positive following the Cabinet’s approval of the “Travel for Tax Deduction” scheme and stronger-than...

Krungthai XSpring

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