KGI Research Singapore

Singapore's leading broker offering Futures, FX, Equities and Wealth Management.

Technical Analysis – 12 September 2023

United States | Singapore | Hong Kong | Earnings

Tesla Inc. (TSLA US)

  • Shares closed at a high since Jul 2023 above the 5dEMA with a surge in volume. 
  • MACD is positive, RSI is constructive.
  • Long – Entry 270, Target 290, Stop 260

Snowflake Inc. (SNOW US)

  • Shares closed higher above the 200dEMA with constructive volume. 5dEMA is about to cross the 200dEMA. 
  • MACD is positive, RSI is constructive.
  • Long – Entry 169, Target 181, Stop 163

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Sheng Siong (SSG SP)

  • Shares closed higher above the 20dEMA with a surge in volume. 5dEMA is about to cross the 20dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 1.56, Target 1.66, Stop 1.51

Frasers Property Ltd. (FPL SP)

  • Shares closed higher above the 20dEMA with a surge in volume.
  • MACD just turned positive, RSI is turning constructive.
  • Long – Entry 0.780 Target 0.840, Stop 0.750

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Innovent Biologics Inc (1801 HK)

  • Shares closed above the 5dEMA with a sharp incline in volume. The 5dEMA crossed the 200dEMA.
  • Both RSI and MACD are constructive.
  • Long – Entry 36.8, Target 40.0, Stop 35.2

MMG Ltd (1208 HK)

  • Shares closed above the 5dEMA with rising volume.  
  • Both RSI and MACD are constructive.
  • Long – Entry 2.72, Target 3.00, Stop 2.58

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Oracle Corp (ORCL)

  • 1Q24 Revenue: $12.45B, +8.7% YoY, miss estimates by $20M
  • 1Q24 Non-GAAP EPS: $1.19, beat estimates by $0.04
  • 2Q24 Guidance: total revenue expected to grow 5% to 7%. Total revenue excluding Cerner are expected to grow 8% to 10%. Total cloud revenue excluding Cerner is expected to grow from 29% to 31%. Non-GAAP EPS is expected to grow between 7% to 11% and be between $1.30 and $1.34. 
  • Comment: Oracle reported mixed 1Q24 results with revenue that missed analysts’ expectations. The company’s cloud services and license support segment grew 13% YoY, but its cloud license and on-premises license segment declined 10%. Hardware revenue fell 6% YoY. Oracle forecast Q2 revenue growth of between 5% and 7%, below analysts’ average estimate of 8.2%. The company attributed the weaker-than-expected results to a number of factors, including the ongoing economic slowdown and the transition of its Cerner acquisition to the cloud. However, Oracle said it was still seeing strong demand for its cloud infrastructure services. Additionally, Oracle’s CTO mentioned that as of today, AI development companies have signed contracts to purchase over $4 billion of capacity in Oracle’s Gen2 Cloud, which is twice as much as Oracle had booked at the end of 4Q23. The continued demand for cloud services, as well as its new database hardware, Micros point-of-sale workstations, and artificial intelligence features in its Fusion Cloud Human Capital Management software, could help Oracle mitigate the ongoing economic slowdown affecting its revenue. 2Q24 recommended trading range: $115 to $120. Neutral Outlook. 

科学应用国际 (SAIC)

  • 24财年第二季营收：17.8亿美元, 同比跌幅3.0%，超预期8,000万美元 
  • 24财年第二季Non-GAAP每股亏损：2.05美元，超预期0.43美元  
  • 24财年指引：将营收预期从之前的71.2亿美元至72.2亿美元区间上调至72亿美元至72.5亿美元区间。该公司还将调整后每股收益预期从此前的7.00美元至7.20美元区间上调至7.20美元至7.40美元区间。
  • 短评：24财年年第二季度，公司业绩令人印象深刻，尽管营收同比下降了3%，但其营收和每股收益均超出了预期。考虑到资产剥离，该公司的收入增长了8.3%，调整后的EBITDA利润率与去年相比显著增长了70个基点。值得注意的是，公司强调了其致力于社区参与，特别是通过其饥饿行动月活动。该公司对其最近取得的成就表示自豪，其战略重点是利用其熟练员工的潜力，增强其品牌影响力，并实现盈利的有机增长。更新后的24财年指引表明，公司有望实现自分拆以来最强劲的有机收入增长和最高的EBITDA利润率，重点是提高利润率、增加股东回报，并继续致力于轻资产商业模式。此外，公司还宣布了即将进行的CEO换届，表达了对新任CEO维护公司成功能力的信心。这位即将离任的首席执行官回顾了他任期内的成就，并强调了他将确保领导权顺利过渡的承诺。24财年第三季度建议交易区间：108美元至115美元。积极前景。

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