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

<ul><li>Asian bourses rebounded while awaiting the Fed meeting results after the BoJ raised interest rates to 0.25%.</li><li>The index surged higher, forming a white candlestick, while the MACD surpassed the signal line and moved closer to the zero line.</li><li>We have a positive view on the index and expect it to advance to the resistance at 1,333 points.</li></ul>

Asian bourses rebounded while awaiting the Fed meeting results after the BoJ raised interest rates to 0.25%.The index surged higher, forming a white candlestick, while the MACD surpassed the signal line and moved closer to the zero line.We have a positive view on the index and expect it to advance to the resistance at 1,333 points.

Recommendation: Buy on Weakness, Sell on Strength

<ul><li>Although the market had no new factors, political concerns forced investors to avoid the market, causing the SET to weaken further with thin volume.</li><li>The index declined slowly in a sideways downtrend.</li><li>The index's trend remains negative, but we recommend buying at the support as it is expected to be the technical rebound point.</li></ul>

Although the market had no new factors, political concerns forced investors to avoid the market, causing the SET to weaken further with thin volume.The index declined slowly in a sideways downtrend.The index's trend remains negative, but we recommend buying at the support as it is expected to be the technical rebound point.

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways down to the support at 1,310/1,305 points, with the resistance at 1,325/1,330 points.</li><li>The meeting, to be held over two days, is expected to cause global equity markets to move sideways in a narrow range as investors await the results.</li><li>With the labor market trend remaining weak, the likelihood of the BoE cutting its policy interest rate this year has increased.</li></ul>

Technically, the SET Index is expected to move sideways down to the support at 1,310/1,305 points, with the resistance at 1,325/1,330 points.The meeting, to be held over two days, is expected to cause global equity markets to move sideways in a narrow range as investors await the results.With the labor market trend remaining weak, the likelihood of the BoE cutting its policy interest rate this year has increased.

Keep a Close Watch on the UK's Employment and FOMC Meeting Tomorrow

<ul><li>Although Asian bourses improved, the SET fluctuated within a tight range as before, with large cap stocks moving up and down only slightly.</li><li>The short-term trend of the index indicates that regardless of whether it rose or weakened, trading volume remained low.</li><li>We believe that the index will rise or continue to swing sideways in a limited range, mitigating the negative signals.</li></ul>

Although Asian bourses improved, the SET fluctuated within a tight range as before, with large cap stocks moving up and down only slightly.The short-term trend of the index indicates that regardless of whether it rose or weakened, trading volume remained low.We believe that the index will rise or continue to swing sideways in a limited range, mitigating the negative signals.

<ul><li>Asian markets experienced mixed movements, with Tokyo witnessing a significant plummet despite growing speculation that the Fed might consider interest rate cuts.</li><li>The index turned down to the 1/2 Fibonacci support at 1,372 points after attempting to breach the resistance.</li><li>We expect the index to move sideways, and it would bounce up quickly if it can stand above 1,372 points.</li></ul>

Asian markets experienced mixed movements, with Tokyo witnessing a significant plummet despite growing speculation that the Fed might consider interest rate cuts.The index turned down to the 1/2 Fibonacci support at 1,372 points after attempting to breach the resistance.We expect the index to move sideways, and it would bounce up quickly if it can stand above 1,372 points.

Krungthai XSpring Technical Eng. May 9, 2024

Thailand

Ichitan Group Public Company Limited is a leading Thai beverage manufacturer specializing in ready-to-drink green teas, herbal drinks, fruit juices, and energy drinks. The company produces a diverse portfolio of non-alcoholic beverages, including major brands like Ichitan Green Tea and Yen Yen. Headquartered in Bangkok, Thailand, the company was founded in 2010.

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Ichitan (ICHI TB)

Recommendation: Buy on Weakness, Sell on Strength

Asian bourses rebounded while awaiting the Fed meeting results after the BoJ raised interest rates to 0.25%. The index surged higher, forming a...

Krungthai XSpring

Recommendation: Buy at the Support

Although the market had no new factors, political concerns forced investors to avoid the market, causing the SET to weaken further with thin...

Krungthai XSpring

Keep a Close Watch on the UK's Employment and FOMC Meeting Tomorrow

Technically, the SET Index is expected to move sideways down to the support at 1,310/1,305 points, with the resistance at 1,325/1,330 points. The...

Krungthai XSpring

Technical Analysis

Although Asian bourses improved, the SET fluctuated within a tight range as before, with large cap stocks moving up and down only slightly. The...

Krungthai XSpring

Krungthai XSpring Technical Eng. May 9, 2024

Asian markets experienced mixed movements, with Tokyo witnessing a significant plummet despite growing speculation that the Fed might consider...

Krungthai XSpring

Price Gauge

52-week Range

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