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>Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,200/1,192 points and the resistance at 1,215/1,219 points (75-day EMA).</li><li>In the short term, the market is still waiting for confirmation of where the peak of Wave 1 (of the 5-wave upward structure in the Elliott Wave theory) will form before entering a correction phase.</li><li>Wave 2 is expected to retrace around 50–61.8% of Wave 1’s length. </li></ul>

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,200/1,192 points and the resistance at 1,215/1,219 points (75-day EMA).In the short term, the market is still waiting for confirmation of where the peak of Wave 1 (of the 5-wave upward structure in the Elliott Wave theory) will form before entering a correction phase.Wave 2 is expected to retrace around 50–61.8% of Wave 1’s length. 

KTX Zoom: China’s Trade Balance - MAY 9, 2025

Technical Analysis

<ul><li>Asian bourses recovered, the baht strengthened, and the market's expectations for economic stimulus measures pushed the SET up to 1,471.48 points.</li><li>The index continued its steady upward movement, remaining above 1,460 points, which increases the likelihood of it testing the resistance at 1,474 points.</li><li>We expect the index to move sideways in a tight range or gradually adjust upward, so we recommend buying on weakness, selling on strength.</li></ul>

Asian bourses recovered, the baht strengthened, and the market's expectations for economic stimulus measures pushed the SET up to 1,471.48 points.The index continued its steady upward movement, remaining above 1,460 points, which increases the likelihood of it testing the resistance at 1,474 points.We expect the index to move sideways in a tight range or gradually adjust upward, so we recommend buying on weakness, selling on strength.

Recommendation: Buy on Weakness, Sell on Strength

<ul><li>Asian bourses surged in response to China's PMI expansion, which prompted the SET to rebound, despite ongoing uncertainty surrounding the impact of the US election results.</li><li>The index quickly surged above 1,480 points, with a second large white candlestick forming in the past four days.</li><li>As we expect the index to adjust upward, we recommend selling on strength, buying on weakness until it can surpass the resistance at 1,506 points.</li></ul>

Asian bourses surged in response to China's PMI expansion, which prompted the SET to rebound, despite ongoing uncertainty surrounding the impact of the US election results.The index quickly surged above 1,480 points, with a second large white candlestick forming in the past four days.As we expect the index to adjust upward, we recommend selling on strength, buying on weakness until it can surpass the resistance at 1,506 points.

<ul><li>The market was largely stagnant, awaiting the banking sector's 3Q24 earnings.</li><li>The index is moving closer to the significant resistance level at 1,500 points with strong trading volume.</li><li>The index is expected to test the resistance at 1,500 points with a chance to surpass this level.</li></ul>

The market was largely stagnant, awaiting the banking sector's 3Q24 earnings.The index is moving closer to the significant resistance level at 1,500 points with strong trading volume.The index is expected to test the resistance at 1,500 points with a chance to surpass this level.

Cross Asset Strategy

<ul><li>Technically, the SET Index is expected to move sideways up, with resistance at 1,372 points (200-day EMA)/1,383 points (50-week EMA) and the support at 1,358/1,353 points (10-day EMA).</li><li>In the short term, the index is undergoing a correction before resuming its upward movement.</li><li>We maintain our recommendation that investors buy when it weakens.</li></ul>

Technically, the SET Index is expected to move sideways up, with resistance at 1,372 points (200-day EMA)/1,383 points (50-week EMA) and the support at 1,358/1,353 points (10-day EMA).In the short term, the index is undergoing a correction before resuming its upward movement.We maintain our recommendation that investors buy when it weakens.

Krungthai XSpring Zoom Eng. September 5, 2024

Thailand

Synnex (Thailand) Public Company Limited distributes computers, computer peripherals, software, information technology systems, computer consumables, and communication devices. The company also offers retail and online platform services, computer system repair and maintenance, and training. It was incorporated in 1988 and is headquartered in Bangkok, Thailand.

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Synnex (SYNEX TB)

KTX Zoom: China’s Trade Balance - MAY 9, 2025

Technically, the SET Index is expected to move in a sideways-down pattern, with the support at 1,200/1,192 points and the resistance at 1,215/1,219...

Krungthai XSpring

Recommendation: Buy on Weakness, Sell on Strength

Asian bourses recovered, the baht strengthened, and the market's expectations for economic stimulus measures pushed the SET up to 1,471.48...

Krungthai XSpring

Technical Analysis

Asian bourses surged in response to China's PMI expansion, which prompted the SET to rebound, despite ongoing uncertainty surrounding the impact...

Krungthai XSpring

Recommendation: Speculative Buy

The market was largely stagnant, awaiting the banking sector's 3Q24 earnings. The index is moving closer to the significant resistance level at...

Krungthai XSpring

Krungthai XSpring Zoom Eng. September 5, 2024

Technically, the SET Index is expected to move sideways up, with resistance at 1,372 points (200-day EMA)/1,383 points (50-week EMA) and the...

Krungthai XSpring

Price Gauge

52-week Range

Market Cap (USDm)

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