Technical Analysis – 16 June 2025

United States | Singapore | Hong Kong | Earnings

Energy Transfer LP. (ET US)

• Shares closed at a high since April 2025. 20dEMA just crossed the 50dEMA.
  
• MACD is positive, RSI is constructive.
  
• Long – Entry 18.2, Target 20.2, Stop 17.2
  

Cheniere Energy, Inc. (LNG US)

• Shares closed higher above the 5dEMA.
  
• MACD is about to turn positive, RSI is constructive.
  
• Long – Entry 233, Target 253, Stop 223
  

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Hongkong Land Holdings Ltd. (HKL SP)

• Shares closed at a 52-week high.
  
• MACD is positive, RSI is at an overbought level.
  
• Buy – Entry 5.55, Target 5.85, Stop 5.40
  

Banyan Tree Holdings Ltd. (BTH SP)

• Shares closed at a high since June 2024 with a surge in volume. 50dEMA just crossed the 200dEMA.
  
• MACD is positive, RSI is at an overbought level.
  
• Buy – Entry 0.400 Target 0.430, Stop 0.385
  

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China State Construction International Holdings Ltd. (3311 HK)

• Shares closed at a two-months high above the 5wEMA with rising volume.
  
• RSI is constructive and MACD is positive.
  
• Long – Entry 12.4 Target 13.4, Stop 11.9
  
  
  
  
  

  

  
  

Zoomlion Heavy Industry Science and Technology Co Ltd (1157 HK)

• Shares closed at a two-months high above the 5dEMA with rising volume.
  
• Both RSI and MACD are constructive.
  
• Long – Entry 6.10, Target 6.60, Stop 5.85
  
  
  

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Adobe Inc. (ADBE)

• 2Q25 Revenue: $5.87B, +10.5% YoY, beat estimates by $70M
  
• 2Q25 Non-GAAP EPS: $5.06, beat estimates by $0.09
  
• 3Q25 Guidance: Expect revenue to be between $5.875 billion to $5.925 billion and EPS to be $5.15 to $5.20.
  
• FY25 Guidance: Expect revenue to be between $23.50 billion and $23.60 billion in fiscal 2025, compared with its prior range of $23.30 billion to $23.55 billion. Raised full-year profit to between $20.50 and $20.70 per share, from its prior range of $20.20 to $20.50 each.
  
• Comment: Adobe raised its full-year revenue forecast to between US$23.50bn and US$23.60bn and its full-year profit guidance to US$20.50 to US$20.70 per share, after reporting stronger-than-expected Q2 results. Revenue for the second quarter was US$5.87bn, an increase of 10.5% YoY, exceeding analyst expectations, while adjusted earnings were US$5.06 per share, surpassing estimates of US$4.97 per share. This performance was supported by growing demand for its AI-powered creative tools like Firefly, a 12% YoY increase in Digital Media annual recurring revenue to US$18.09bn and a continued recovery in client spending after a cautious first quarter. Looking ahead, Adobe’s ability to scale adoption of its generative AI tools, deepen customer engagement across its core platforms, and defend market share against rising competition from companies like Canva, OpenAI, and Google will be critical to sustaining its growth trajectory and justifying its optimistic full-year outlook. 3Q25 recommended trading range: $400 to $420. Neutral Outlook.
  

Adobe Inc. (ADBE）

• 25财年第二季度营收：58.7亿美元，同比增长10.5%，超出预期7000万美元
  
• 25财年第二季度Non-GAAP每股收益：5.06美元，超出预期0.09美元
  
• 25财年第三季度指引：预计营收在58.75亿至59.25亿美元之间，每股收益在5.15至5.20美元之间。
  
• 25财年指引：预计2025财年的营收在235亿美元至236亿美元之间，较之前的233亿美元至235.5亿美元的范围有所上调。将全年利润预期上调至每股20.50至20.70美元，从之前的20.20至20.50美元的范围提高。
  
• 短评： 在报告出乎意料的强劲第二季度业绩后，Adobe将全年营收预期上调至235亿美元至236亿美元，并将全年利润指引上调至每股20.50至20.70美元。第二季度营收为58.7亿美元，同比增长10.5%，超出分析师预期，而调整后的每股收益为5.06美元，超过预期的4.97美元。这一业绩得益于对其AI驱动的创意工具（如Firefly）的需求增长，数字媒体年度经常性收入同比增长12%，达到180.9亿美元，并且在经过谨慎的第一季度后，客户支出持续回暖。展望未来，Adobe能否扩大其生成式AI工具的采用，深化核心平台上的客户互动，并抵御来自Canva、OpenAI和谷歌等公司的竞争，将对其持续增长轨迹和乐观的全年展望至关重要。25财年第三季度建议交易区间：400美元至420美元。中性前景。