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.

Equity Bottom-Up

Rojana Industrial Park / Equity Bottom-Up

<ul><li>Technically, the SET Index is expected to move sideways, with resistance at 1,270/1,275 points and the support at 1,254/1,244 points.</li><li>In the medium term, the index remains in a zig-zag down downtrend, searching for the bottom within the 1,220-1,506 point range.</li><li>In the short term, a technical rebound is underway after the index hit a 4-year 3-month low at 1,236.80 points (on the morning of Monday, Feb. 17).</li></ul>

Technically, the SET Index is expected to move sideways, with resistance at 1,270/1,275 points and the support at 1,254/1,244 points.In the medium term, the index remains in a zig-zag down downtrend, searching for the bottom within the 1,220-1,506 point range.In the short term, a technical rebound is underway after the index hit a 4-year 3-month low at 1,236.80 points (on the morning of Monday, Feb. 17).

<ul><li>Technically, the SET Index is expected to weaken, with the support at 1,308/1,300 points and the resistance at 1,324/1,330 points.</li><li>The investment strategy remains cautious, waiting for a technical reversal signal (higher high, higher low) before entering new positions.</li><li>From a fundamental perspective, the valuation has entered an attractive zone for selective buying, with PTT, BBL, and KKP as the recommended picks.</li></ul>

Technically, the SET Index is expected to weaken, with the support at 1,308/1,300 points and the resistance at 1,324/1,330 points.The investment strategy remains cautious, waiting for a technical reversal signal (higher high, higher low) before entering new positions.From a fundamental perspective, the valuation has entered an attractive zone for selective buying, with PTT, BBL, and KKP as the recommended picks.

<ul><li>From a tactical perspective, the SET Index is expected to rise, with the resistance at 1,354/1,360 points and the support at 1,340/1,334 points.</li><li>In the medium term, the index remains in a bearish trend, forming a rounding-top pattern within the range of 1,273-1,506 points.</li><li>In the short term, it continues to move in a zig-zag down pattern, searching for a bottom to signal a new upward trend (bottoming out).</li></ul>

From a tactical perspective, the SET Index is expected to rise, with the resistance at 1,354/1,360 points and the support at 1,340/1,334 points.In the medium term, the index remains in a bearish trend, forming a rounding-top pattern within the range of 1,273-1,506 points.In the short term, it continues to move in a zig-zag down pattern, searching for a bottom to signal a new upward trend (bottoming out).

<ul><li>We maintain an Outperform rating on MASTER.</li><li>The sharp decline in the stock price yesterday following the news about the big lot transaction enhances its investment attractiveness in terms of the valuation, with huge upside of 69% compared to the 2025E fair value of Bt54.76, based on a required return of 3.7%.</li><li>The tactical outlook has also improved to limited downside risk (previously neutral) after the gap between the stock price and fair value narrowed to approach the average -1.5 S.D.</li></ul>

We maintain an Outperform rating on MASTER.The sharp decline in the stock price yesterday following the news about the big lot transaction enhances its investment attractiveness in terms of the valuation, with huge upside of 69% compared to the 2025E fair value of Bt54.76, based on a required return of 3.7%.The tactical outlook has also improved to limited downside risk (previously neutral) after the gap between the stock price and fair value narrowed to approach the average -1.5 S.D.

Master Style - Panic Selling Presents a Good Investment Opportunity

<ul><li>Technically, the SET Index is expected to weaken, with the support at 1,332/1,322 points and the resistance at 1,349/1,355 points.</li><li>In the short term, it is in a downtrend, forming a rounding-top pattern and moving deeper to test the key support at 1,300 points.</li><li>Investment strategy: It is recommended to wait for new technical buy signals before buying.</li></ul>

Technically, the SET Index is expected to weaken, with the support at 1,332/1,322 points and the resistance at 1,349/1,355 points.In the short term, it is in a downtrend, forming a rounding-top pattern and moving deeper to test the key support at 1,300 points.Investment strategy: It is recommended to wait for new technical buy signals before buying.

Thailand

Master Style Public Company Limited operates Masterpiece Hospital, a cosmetic surgery hospital in Thailand. The company provides a full range of surgical services, including rhinoplasty, breast surgery, liposuction, and hair transplants, along with skin and laser treatments. Masterpiece Hospital is located in Bangkok, Thailand, and the company was registered on July 24, 2013.

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Master Style (MASTER TB)

Strategic Daily Picks

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Krungthai XSpring

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From a tactical perspective, the SET Index is expected to rise, with the resistance at 1,354/1,360 points and the support at 1,340/1,334...

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Master Style - Panic Selling Presents a Good Investment Opportunity

The sharp decline in the stock price yesterday following the news about the big lot transaction enhances its investment attractiveness in terms of...

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US Inflation and 4Q24 Earnings Results

Technically, the SET Index is expected to weaken, with the support at 1,332/1,322 points and the resistance at 1,349/1,355 points. In the short...

Krungthai XSpring

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