Technical Analysis – 16 December 2024

United States | Singapore | Hong Kong | Earnings

Dicks Sporting Good, Inc (DKS US)

• Shares closed above the 5dEMA. 20dEMA recently crossed the 50dEMA.
  
• MACD is positive, RSI is constructive.
  
• Long – Entry 220 Target 238, Stop 211
  

Abercombie & Fitch Co (ANF US)

• Shares closed above the 5dEMA.
  
• MACD is turning positive, RSI is turning constructive.
  
• Long – Entry 140 Target 160 Stop 130
  

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Singapore Airlines Ltd (SIA SP)

• Shares closed at a one-month high above the 50dEMA with rising volume. The 5dEMA crossed the 50dEMA.
  
• Both MACD and RSI are constructive.
  
• Long – Entry 6.4, Target 6.8, Stop 6.2
  

SBS Transit Ltd (SBUS SP)

• Shares closed above the 20dEMA. The 50dEMA crossed the 20dEMA.
  
• RSI is constructive, while MACD is about to turn positive.
  
• Long – Entry 2.44 Target 2.60, Stop 2.36
  

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COSCO SHIPPING Holdings Co Ltd (1919 HK)

• Shares closed at a 1-month high above the 5dEMA with rising volume. The 20dEMA is about to cross the 50dEMA.
  
• RSI is constructive and MACD is positive.
  
• Long – Entry 12.0, Target 13.0, Stop 11.5
  

Sunny Optical Technology Group Co Ltd (2382 HK)

• Shares closed at a 11-month high above the 5dEMA with rising volume.
  
• RSI is constructive and MACD turned positive.
  
• Long – Entry 66.2, Target 72.0, Stop 63.3
  

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Broadcom Inc (AVGO)

• 4Q24 Revenue: $14.06B, +51.2% YoY, in-line with estimates
  
• 4Q24 Non-GAAP EPS: $1.42, beat estimates by $0.03
  
• 1Q25 Guidance: Expect revenue of about $14.6 billion, just ahead of the $14.57 billion average analyst estimate.
  
• Divided: Declared $0.59/share quarterly dividend, 11.3% increase from prior dividend of $0.53.
  
• Comment: Broadcom exceeded fourth quarter profit expectations, driven by strong demand for AI-related products. Earnings reached US$1.42 per share, surpassing analysts’ estimates of US$1.39, with revenue at US$14.1bn. AI-related revenue surged 220% to US$12.2bn during the fiscal year, fuelled by demand for AI processors and networking components. Broadcom’s semiconductor division grew 12% to US$8.23bn, while software revenue nearly tripled to US$5.82bn, supported by the US$69bn acquisition of VMware. The company’s diverse portfolio, spanning data centers, smartphones, and cybersecurity, positions it as a bellwether for the tech industry. Sales for the fiscal 1Q25 are projected at US$14.6bn, aligning with forecasts. Despite concerns over slowing chip demand and challenges posed by Apple’s shift to in-house components, Broadcom’s focus on AI and its strong market presence indicate continued growth. Investor confidence remains high, driven by the sustained momentum of AI-driven demand. 1Q25 recommended trading range: $180 to $220. Positive Outlook.
  

博通 (AVGO)

• 24财年第四季营收：140.6亿美元，同比增幅51.2%，符合預期
  
• 24财年第四季Non-GAAP每股盈利：1.42美元，超预期0.03美元。
  
• 25财年第一季指引：预计营收约146亿美元，略高于分析师平均预估的145.7亿美元。
  
• 股息：宣布派发每股0.59美元的季度股息，较先前派发的0.53美元增加11.3%。
  
• 短评：受人工智能相关产品强劲需求的推动，博通第四季度盈利超出预期。每股收益达到1.42美元，超过分析师预期的1.39美元，营收达到141亿美元。在人工智能处理器和网络组件需求的推动下，本财年人工智能相关收入飙升220%，达到122亿美元。博通的半导体部门增长了12%，达到82.3亿美元，而在以690亿美元收购VMware的推动下，软件收入增长了近两倍，达到58.2亿美元。该公司多元化的产品组合，涵盖数据中心、智能手机和网络安全，使其成为科技行业的领头羊。2025财年第一季度的销售额预计为146亿美元，与预期相符。尽管对芯片需求放缓以及苹果转向内部组件带来的挑战感到担忧，但博通对人工智能的关注及其强大的市场占有率表明，该公司将继续增长。受人工智能驱动的需求持续增长的推动，投资者信心依然很高。25财年第一季度建议交易区间：180至220美元。积极前景。
  

Costco Wholesale Corporation (COST)

• 1Q25 Revenue: $62.15B, +7.5% YoY, beat estimates by $150M
  
• 1Q25 Non-GAAP EPS: $3.82, beat estimates by $0.03
  
• 2Q25 Guidance: No guidance provided
  
• Comment: Costco Wholesale exceeded first quarter revenue and profit expectations, driven by strong holiday-season sales and bulk discount offerings that appealed to budget-conscious shoppers. Revenue rose 7.5% to US$62.15bn, surpassing analysts’ estimates of US$62.08bn, while profit reached US$4.04 per share, exceeding forecasts of US$3.79. Net income climbed to US$1.80bn, up from US$1.59bn a year ago. Comparable sales grew 5.2%, with US traffic increasing 4.9%. The company benefited from increased sales across various categories, including home furnishings and jewellery, as well as pre-Black Friday discounts. Seasonal promotions, like discounted gaming monitors and headphones, boosted early holiday spending despite a shorter shopping season. Membership fee hikes also contributed to a 7.7% rise in membership revenue, reaching US$1.17bn. E-commerce sales surged 13%, with record deliveries of large items. Kirkland Signature, Costco’s private label, outpaced overall growth, and fresh food sales, particularly meat, saw double-digit growth. Costco added 7 new clubs in the quarter, planning 29 for the fiscal year, including 10 outside the US Membership renewal rates remained strong at 90.4%, with total cardholders reaching 138.8mn. The company’s unique membership model and consistent performance highlight its resilience, even amid economic challenges and fee increases. 2Q25 recommended trading range: $970 to $1030. Neutral Outlook.
  

好市多 (COST)

• 25财年第一季营收：621.5亿美元，同比增幅7.5%，超预期1.5亿美元
  
• 25财年第一季Non-GAAP每股盈利：3.82美元，超预期0.03美元。
  
• 25财年第二季指引：不提供指引。
  
• 短评：好市多第一季度营收和利润均超出预期，主要受假日销售强劲和大宗折扣活动的推动，这些活动吸引了注重预算的购物者。收入增长7.5%，达到621.5亿美元，超过分析师预期的620.8亿美元，每股利润达到4.04美元，超过预期的3.79美元。净利润从一年前的15.9亿美元攀升至18.8亿美元。可比销售额增长5.2%，美国流量增长4.9%。该公司受益于各种类别的销售增长，包括家居用品和珠宝，以及黑色星期五前的折扣。尽管购物季较短，但打折的游戏显示器和耳机等季节性促销活动提振了假日消费。会员费上涨也推动会员收入增长7.7%，达到11.7亿美元。电子商务销售额飙升13%，大件商品的交货量创下历史新高。好市多自有品牌Kirkland Signature的销量增速超过了整体增速，生鲜食品（尤其是肉类）的销量也出现了两位数的增长。本季度公司新增了7家俱乐部，计划在本财年增加29家，其中包括10家美国以外的俱乐部，会员更新率保持在90.4%的强劲水平，持卡人总数达到1.388亿。该公司独特的会员模式和一贯的业绩突出了其弹性，即使在经济挑战和费用上涨的情况下。25财年第二季度建议交易区间：970至1030美元。中性前景。