Technical Analysis – 03 April 2024
United States | Singapore | Hong Kong | Earnings
Alcoa Corp. (AA US) 
- Shares closed at a high since July 2023 with constructive volume. 20dEMA just crossed the 200dEMA.
- MACD is positive, RSI is at an overbought level.
- Long – Entry 35.0, Target 39.0, Stop 33.0
First Majestic Silver Corp. (AG US)
- Shares closed at a high since Dec 2023 with constructive volume. 5dEMA just crossed the 20dEMA.
- MACD is positive, RSI is at an overbought level.
- Long – Entry 6.30, Target 6.90, Stop 6.00
Dyna-Mac Holdings Ltd. (DMHL SP)
- Share closed a high since Oct 2023 with constructive volume.
- MACD is positive, RSI is at an overbought level.
- Long – Entry 0.385, Target 0.415, Stop 0.370
DFI Retail Group Ltd. (DFIRG SP)
- Shares closed at a high since Jan 2024 with constructive volume. 5dEMA just crossed the 50dEMA and 20dEMA is about to cross the 50dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 2.20, Target 2.34, Stop 2.13
PetroChina Co. (857 HK)
- Shares closed at a 52-week high with a surge in volume.
- MACD just turned positive, RSI is at an overbought level.
- Long – Entry 7.00, Target 7.60, Stop 6.70
CNOOC Ltd. (883 HK)
- Shares closed at a 52-week high with a surge in volume.
- MACD is about to turn positive, RSI is at an overbought level.
- Long – Entry 18.70, Target 20.30, Stop 17.90
PVH Corp. (PVH)
- 4Q23 Revenue: $2.49B, flat YoY, beat estimates by $70M
- 4Q23 Non-GAAP EPS: $3.72, beat estimates by $0.20
- 1Q24 Guidance: Expect EPS of $2.15 per share vs $2.58 consensus; Revenue expected to fall 11% compared to 1Q23. FY24 Guidance: Revenue projected to decrease 6% to 7% as compared to 2023, inclusive of a 2% reduction resulting from the sale of the Heritage Brands women’s intimates business in Nov 2023 and a 1% reduction from the 53rd week in 2023, vs consensus of $9.06B; Operating margin projected to be approximately flat compared to 10.1% in 2023; EPS projected to be $10.75 to $11.00, vs consensus of $12.04.
- Comment: PVH Corp. reported robust quarterly results, although its projection for 1Q24 fell short of expectations. During 4Q23, the company experienced significant growth in the Asia Pacific region, offsetting challenges in Europe’s wholesale sector amid a persistently tough economic environment. Despite facing headwinds in North America’s wholesale segment, PVH saw strong performance in its direct-to-consumer business. Moreover, the company’s gross margins expanded to 60.3% from 55.9%, attributed to lower freight expenses, favorable shifts in regional and channel distribution, and reduced product costs. PVH also unveiled plans to increase its share buyback program by $2 billion. Although consumer sentiment has shown improvement in 2024, the focus remains on essential purchases amid economic uncertainty. 1Q24 recommended trading range: $92 to $124. Neutral Outlook.
PVH公司(PVH)
- 23财年第四季营收：24.9 亿美元，同比持平，超预期 7,000 万美元
- 23财年第四季Non-GAAP每股收益：3.72 美元，超预期 0.20 美元
- 24财年第一季指引：预计每股收益为 2.15 美元，共识为 2.58 美元； 收入预计较 2023 年第一季度下降 11%。24财年指引：与 2023 年相比，收入预计将减少 6% 至 7%，其中包括 2023 年 11 月出售 Heritage Brands 女性内衣业务导致的 2% 减少以及自 2023 年第 53 周以来的 1% 减少，而市场预期为 9.06 美元 B; 营业利润率预计与 2023 年的 10.1% 基本持平； 每股收益预计为 10.75 美元至 11.00 美元，而市场普遍预期为 12.04 美元。。
- 短评：PVH Corp. 公布了强劲的季度业绩，尽管其对 2024 年第一季度的预测未达到预期。 2023 年第四季度，该公司在亚太地区经历了显着增长，抵消了欧洲批发行业在持续严峻的经济环境下面临的挑战。 尽管在北美批发领域面临阻力，PVH 的直接面向消费者业务仍表现强劲。 此外，由于运费下降、区域和渠道分销的有利转变以及产品成本的降低，公司的毛利率从55.9%扩大到60.3%。 PVH 还公布了将其股票回购计划增加 20 亿美元的计划。 尽管 2024 年消费者信心有所改善，但在经济不确定的情况下，重点仍然是必需品购买。24财年第一季度建议交易区间：92美至124美元。中性前景。
