Limited upper bound, bad news in a fall below 1440
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Market today
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The upper bound is still limited. Resistances are between 1460-1465 amid negative factors of a stronger dollar, which weakens the baht and pressures funds outward and raises US bond yield, which is sentimentally negative. The lower bound is at support of 1440 which is a following point. If the index breaks below this, it will be bad news, with the next support at 1430.
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High conviction
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CPALL
– 3Q24: Earnings surprises not yet end – Outperform
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CRC
– 3Q24: Bottomed, positive signs on expenses – Outperform
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LHHOTEL
– 3Q24: Results a “Grande” achievement – Outperform
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TIDLOR
– Decent recovery with a relief on asset quality – Outperform
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Company analysis
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BGRIM
– 3Q24: Below consensus on FX loss impact – Neutral
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BLA
– 3Q24: Below consensus on FX loss impact – Outperform
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BTSGIF
– 2QFY25: Core profit on track – Neutral
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DIF
– 3Q24: Earnings as expected – Outperform
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PTT
– 3Q24: Sharp fall QoQ and YoY as expected – Outperform
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SAWAD
– 3Q24: In line with estimates – Underperform
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SPRC
– 3Q24: Net loss worse than expected – Neutral
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TLI
– 3Q24: Better ROI, lower insurance profit – Neutral
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