KGI Research Singapore

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

Technical Analysis – 14 December 2023

United States | Singapore | Hong Kong | Earnings

ASML Holding N.V. (ASML US)

  • Shares closed higher above the 5dEMA with more volume.
  • MACD just turned positive, RSI is at an “overbought” level.
  • Long – Entry 729, Target 799, Stop 694

Texas Instruments Inc. (TXN US)

  • Shares closed higher above the 5dEMA. 20dEMA just crossed the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 160.5, Target 172.5, Stop 154.5

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DBS Bank (DBS SP)

  • Shares closed higher above the 5dEMA.
  • MACD just turned positive, RSI is turning constructive.
  • Long – Entry 31.75, Target 32.75, Stop 31.25

UOB Ltd. (UOB SP)

  • Shares closed higher above the 50dEMA. 5dEMA is about to cross the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 27.70, Target 28.70, Stop 27.20

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AAC Technologies Holdings Inc (2018 HK)

  • Shares closed above the 5dEMA.
  • RSI is constructive, while MACD is negative.
  • Long – Entry 21.6, Target 22.8, Stop 21.0

Fuyao Glass Industry Group Co Ltd (3606 HK)

  • Shares formed an inverse head and shoulder pattern and closed above the 20dEMA. The 5dEMA crossed the 50dEMA.
  • RSI is constructive, while MACD is about to turn positive.
  • Long – Entry 36.1, Target 38.3, Stop 35.0

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Adobe Inc. (ADBE)

  • 4Q23 Revenue: $5.05B, +11.5% YoY, beat estimates by $30M
  • 4Q23 Non-GAAP EPS: $4.27, beat estimates by $0.13
  • Share buybacks: Adobe repurchased approximately 1.8mn shares during the quarter.
  • 1Q24 Guidance: Total revenue $5.10bn to $5.15bn vs consensus of $5.15bn; Non-GAAP EPS $4.35 to $4.40 vs consensus of $4.27. 2024 Guidance: Total Revenue $21.30bn to $21.50bn; Non-GAAP EPS $17.60 to $18.00.
  • Comment: Adobe’s Q4 performance exceeded analyst estimates, but its outlook for fiscal 2024 fell short. The company faces regulatory headwinds, with ongoing discussions with the FTC over its subscription practices and an imminent decision from the DOJ on its Figma acquisition. Price hikes implemented in November exacerbated the impact of inflation and rising interest rates, leading individuals and businesses to curtail spending. However, the Fed’s projected rate cuts in 2024 offer a glimmer of hope for improved consumption in the long run. 1Q24 recommended trading range: $500 to $700. Neutral Outlook.

奥多比 (ADBE)

  • 23财年第四季营收：50.5亿美元, 同比增幅11.5%，超预期3,000万美元
  • 23财年第四季Non-GAAP每股盈利：4.27美元，超预期0.13美元
  • 股票回购：公司在本季度回购了约180万股股票。
  • 24财年第一季指引：总收入51.1亿至51.5亿美元，低于市场预期的51.5亿美元；Non-GAAP每股收益4.35美元至4.40美元，而市场预期为4.27美元。2024年指引：总收入21.3亿至21.5亿美元；Non-GAAP每股收益17.60美元至18.00美元。
  • 短评：奥多比第四季度的业绩超出了分析师的预期，但其2024财年的前景却低于预期。该公司面临监管方面的阻力，目前正在与美国联邦贸易委员会(FTC)就其订阅行为进行讨论，美国司法部(DOJ)即将就收购Figma做出决定。11月份实施的价格上涨加剧了通胀和利率上升的影响，导致个人和企业削减支出。然而，美联储预计在2024年降息，为长期消费改善带来了一线希望。第一季度建议交易区间：580美至700美元。中性的前景。

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