Technical Analysis – 14 November 2024

United States | Singapore | Hong Kong | Earnings

Workday, Inc. (WDAY US)

• Shares closed a high since March 2024. 50dEMA recently crossed the 200dEMA.
• MACD is positive, RSI is at an overbought level.
• Long – Entry 275 Target 305, Stop 260

EPAM Systems, Inc. (EPAM US)

• Shares closed at a high since May 2024. 5dEMA just crossed the 200dEMA and 20dEMA is about to cross the 200dEMA.
• MACD is positive, RSI is at an overbought level.
• Long – Entry 246 Target 270, Stop 234

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Riverstone Holdings Ltd. (RSTON SP)

• Shares closed at a high since September 2024 with more volume. 20dEMA is about to cross the 50dEMA.
• MACD is positive, RSI is constructive.
• Long – Entry 0.93, Target 1.01, Stop 0.89

HRnetgroup Ltd (HRNET SP)

• Shares closed higher above the 200dEMA with constructive volume. 5dEMA is about to cross the 200dEMA.
• MACD is positive, RSI is constructive.
• Long – Entry 0.695 Target 0.725, Stop 0.680

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Yidu Tech Inc. (2158 HK)

• Shares closed at a 52-week high with a surge in volume. 5dEMA and 20dEMA just crossed the 200dEMA and 50dEMA is about to cross the 200dEMA.
• MACD is positive, RSI is at an overbought level.
• Long – Entry 5.60, Target 6.20, Stop 5.30

Ping An Healthcare & Techno Co Ltd (1833 HK)

• Shares closed higher above the 5dEMA with a surge in volume. 20dEMA just crossed the 200dEMA.
• MACD is positive, RSI is constructive.
• Long – Entry 14.50, Target 16.50, Stop 13.50

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Cisco Systems, Inc. (CSCO)

• 1Q25 Revenue: $13.84B, -5.7% YoY, beat estimates by $70M
• 1Q25 Non-GAAP EPS: $0.91, beat estimates by $0.04
• 1Q25 Dividend: Declare $0.40/share quarterly dividend, in line with previous; Forward yield 2.7%; Payable Jan. 22; for shareholders of record Jan. 3; ex-div Jan. 3.
• 2Q25 Guidance: Expect revenue to be in the range of $13.75bn to $13.95bn, midpoint of $13.85bn above consensus of $13.76bn; Expects Non-GAAP EPS to be between $0.89 to $0.91, vs consensus of $0.87.
• FY25 Guidance: Expect revenue to be in the range of $55.3bn to $56.3bn, midpoint of $55.8bn vs consensus of $55.95bn; expects Non-GAAP EPS to be in the range of $3.60 to $3.66, midpoint of $3.63 vs consensus of $3.57.
• Comment: Cisco Systems reported its fourth consecutive quarter of declining revenue, though results still exceeded market expectations. The company offered an optimistic outlook for Q2 FY25, driven by rising demand for its networking products amid the AI surge. With recent interest rate cuts, companies have accelerated investments in AI technologies, which require significant computing power and have spurred demand for data centers reliant on Cisco’s equipment, including ethernet switches and routers. To diversify beyond its traditional networking hardware, which has faced supply chain challenges and weaker post-pandemic demand, Cisco has pivoted toward cybersecurity, cloud systems, and AI-driven products. The company announced two rounds of layoffs this year to reduce costs amid this shift. In March, Cisco completed its $28 billion acquisition of Splunk, aiming to expand its software portfolio and enhance cybersecurity capabilities to counterbalance the slowdown in demand. Despite the positive Q2 revenue outlook, Cisco’s FY25 guidance fell short of market expectations, signaling anticipated challenges in the upcoming fiscal year. 2Q25 recommended trading range: $55 to $60. Neutral Outlook.

思科系统 (CSCO)

• 25财年第一季营收：138.4亿美元，同比跌幅5.7%，超预期7,000万美元
• 25财年第一季每股盈利：0.91美元，超预期0.04美元
• 25财年第一季度股息：宣布每股0.40美元的季度股息，与之前一致；远期股息率为2.7%；1月22日为付息日；1月3日为股东登记日及除息日。
• 25财年第二季度指引：预计营收将在137.5亿美元至139.5亿美元之间，比市场预期的137.6亿美元高出138.5亿美元的中点；预计Non-GAAP每股收益在0.89美元至0.91美元之间，而市场预期为0.87美元。
• 25财年指引：预计营收将在553亿美元至563亿美元之间，中间值为558亿美元，而市场预期为559.5亿美元；预计Non-GAAP每股收益将在3.60美元至3.66美元之间，中间值为3.63美元，而市场预期为3.57美元。
• 短评：思科系统连续第四个季度营收下滑，但业绩仍超出市场预期。该公司对25财年第二季度的前景表示乐观，原因是在人工智能热潮中，对其网络产品的需求不断上升。随着最近的降息，企业加快了对人工智能技术的投资，这需要强大的计算能力，并刺激了对依赖思科设备（包括以太网交换机和路由器）的数据中心的需求。面对供应链挑战和疫情后需求疲软的传统网络硬件，为了实现多元化，思科已将重心转向网络安全、云系统和人工智能驱动的产品。该公司今年宣布了两轮裁员，以降低成本。今年3月，思科完成了对Splunk的280亿美元收购，旨在扩大其软件产品组合，增强网络安全能力，以抵消需求放缓的影响。尽管第二季度营收前景乐观，但思科25财年的指引低于市场预期，预示着即将到来的财年将面临挑战。25财年第二季度建议交易区间：55至60美元。中性前景。