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>The SET Index faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged.</li><li>Despite the pressure, the SET managed to hold above the 1,200-point level.</li><li>The index is expected to move sideways or bounce up slightly as the price pattern did not change; we thus recommend selective speculation.</li></ul>

The SET Index faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged.Despite the pressure, the SET managed to hold above the 1,200-point level.The index is expected to move sideways or bounce up slightly as the price pattern did not change; we thus recommend selective speculation.

Thematic (Sector/Industry)

<ul><li>Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.</li><li>In the short term, the market is still awaiting confirmation of the peak of Wave 1 (of the 5-wave uptrend in the Elliott Wave theory) before entering a correction phase.</li><li>Wave 2 typically retraces around 50-61.8% of Wave 1’s length.</li></ul>

Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.In the short term, the market is still awaiting confirmation of the peak of Wave 1 (of the 5-wave uptrend in the Elliott Wave theory) before entering a correction phase.Wave 2 typically retraces around 50-61.8% of Wave 1’s length.

KTX Zoom: BoE Expected to Cut Interest Rates Further - MAY 8, 2025

<ul><li>Technically, the SET Index is expected to weaken, with the support levels at 1,150/1,140 points and the resistance at 1,166/1,174 points (10-day EMA) and 1,180 points.</li><li>In the medium term, the trend remains bearish in a zig-zag down pattern, seeking the bottom within the 1,100-1,506 range.</li><li>In the short term, the index is still in a downtrend (forming new lows followed by rebounds). </li></ul>

Technically, the SET Index is expected to weaken, with the support levels at 1,150/1,140 points and the resistance at 1,166/1,174 points (10-day EMA) and 1,180 points.In the medium term, the trend remains bearish in a zig-zag down pattern, seeking the bottom within the 1,100-1,506 range.In the short term, the index is still in a downtrend (forming new lows followed by rebounds). 

<ul><li>Technically, the SET Index is expected to move lower. The key support levels are at 1,150/1,130 points, while the resistance is at 1,176 points (10-day EMA) and 1,185 points.</li><li>The medium-term trend remains downward in a zig-zag down pattern as the index searches for the bottom within the broader range of 1,100-1,506 points.</li><li>In the short term, the index continues in a downtrend (forming new lows with occasional rebounds). </li></ul>

Technically, the SET Index is expected to move lower. The key support levels are at 1,150/1,130 points, while the resistance is at 1,176 points (10-day EMA) and 1,185 points.The medium-term trend remains downward in a zig-zag down pattern as the index searches for the bottom within the broader range of 1,100-1,506 points.In the short term, the index continues in a downtrend (forming new lows with occasional rebounds). 

<ul><li>Technically, the SET Index is expected to move sideways, with the resistance at 1,177 points (10-day EMA) and 1,185 points, and the support at 1,160 and 1,155 points.</li><li>In the medium term, the index remains in a downward trend in a zig-zag pattern, aiming to find the bottom within the range of 1,100 to 1,506 points.</li><li>In the short term, the trend is still downward, returning to a new low followed by a rebound pattern. </li></ul>

Technically, the SET Index is expected to move sideways, with the resistance at 1,177 points (10-day EMA) and 1,185 points, and the support at 1,160 and 1,155 points.In the medium term, the index remains in a downward trend in a zig-zag pattern, aiming to find the bottom within the range of 1,100 to 1,506 points.In the short term, the trend is still downward, returning to a new low followed by a rebound pattern. 

KTX Zoom - US Reciprocal Tariffs: APRIL 2, 2025

Thailand

PTT is a Thai state-owned integrated petroleum and natural gas company involved in exploration, production, refining, and marketing of oil and gas, petrochemicals, and electricity generation. It operates extensive submarine gas pipelines and a network of LPG terminals. Headquartered in Bangkok, Thailand, the company was founded in 1978.

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PTT (PTT TB)

Recommendation: Selective Speculation

The SET Index faced profit-taking after a sharp recent rally, as no new supportive catalysts emerged. Despite the pressure, the SET managed to...

Krungthai XSpring

KTX Zoom: BoE Expected to Cut Interest Rates Further - MAY 8, 2025

Technically, the SET Index is expected to move sideways, with the support levels at 1,208/1,200 points and the resistance at 1,230/1,235 points.

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Technically, the SET Index is expected to weaken, with the support levels at 1,150/1,140 points and the resistance at 1,166/1,174 points (10-day...

Krungthai XSpring

KTX Zoom - APRIL 3, 2025

Technically, the SET Index is expected to move lower. The key support levels are at 1,150/1,130 points, while the resistance is at 1,176 points (10...

Krungthai XSpring

KTX Zoom - US Reciprocal Tariffs: APRIL 2, 2025

Technically, the SET Index is expected to move sideways, with the resistance at 1,177 points (10-day EMA) and 1,185 points, and the support at...

Krungthai XSpring

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