KGI Research Singapore

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

Technical Analysis – 16 May 2024

United States | Singapore | Hong Kong | Earnings

Super Micro Computer, Inc. (SMCI US) A graph of stock market Description automatically generated

  • Shares closed higher above the 50dEMA with rising volume.
  • MACD is positive, RSI is constructive.
  • Long – Entry 930, Target 1030, Stop 880

Advanced Micro Devices, Inc. (AMD US)

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  • Shares closed higher above the 20dEMA. 5dEMA is about to cross the 20dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 158, Target 172, Stop 151

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Top Glove Corp. (TOPG SP)

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  • Shares closed higher close to a 52-week high with a surge in volume. 20dEMA just crossed the 200dEMA, 50dEMA is about to cross 200dEMA.
  • MACD is positive, RSI is at an overbought level.
  • Long – Entry 0.320, Target 0.360, Stop 0.300

Medtecs International Corp. (MED SP)

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  • Shares closed at a high since Jan 2024 with a surge in volume. 5dEMA is about to cross the 200dEMA, 20dEMA just crossed the 50dEMA.
  • MACD is positive, RSI is at an overbought level.
  • Long – Entry 0.150, Target 0.170, Stop 0.140

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New Oriental Education & Technology Group Inc. (9901 HK)

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  • Shares closed higher above the 50dEMA. 5dEMA just crossed the 20dEMA and 50dEMA.
  • Both RSI and MACD are constructive.
  • Long – Entry 69.0, Target 75.0, Stop 66.0
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JD Logistics Inc. (2618 HK)

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  • Shares closed above the 200dEMA with constructive volume.
  • MACD is positive, RSI is at an overbought level.
  • Long – Entry 9.40, Target 10.0, Stop 9.10

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Cisco Systems Inc (CSCO)

  • 3Q24 Revenue: $12.7B, -12.8% YoY, beat estimates by $70M
  • 3Q24 Non-GAAP EPS: $0.88, beat estimates by $0.06
  • 4Q24 Guidance: Expect revenue of $13.4mn to $13.6bn vs consensus of $13.54bn; Expect Non-GAAP EPS of $0.84 to $0.86 vs consensus of $0.84. FY24 Guidance: Expect revenue of $53.6bn to $53.8bn vs consensus of $53.54bn; Expect Non-GAAP EPS of $3.69 to $3.71 vs consensus of $3.64.
  • Comment: Cisco Systems reported strong results and issued better-than-expected guidance, benefiting from increased enterprise spending and easing supply chain constraints. The company anticipates that customers will complete the installation of most of their current inventory by the end of its fiscal year in July. Demand for Cisco’s products is also stabilizing. Additionally, consumer and business spending are expected to rise due to favourable rate-cut expectations. Cisco is focused on opportunities in the AI infrastructure space, with management confident in reaching $1 billion in AI product orders by fiscal 2025. 4Q24 recommended trading range: $50 to $56. Positive Outlook.

思科系统 (CSCO)

  • 24财年第三季营收：127.0亿美元，同比跌幅12.8%，超预期7,000万美元
  • 24财年第三季每股盈利：0.88美元，超预期0.06美元
  • 24财年第四季指引：预计营收为1340万美元至136亿美元，而市场预期为135.4亿美元；Non-GAAP每股收益预计为0.84美元至0.86美元，而市场预期为0.84美元。24财年指引：预计营收536亿至538亿美元，市场预期为535.4亿美元；Non-GAAP每股收益预期为3.69美元至3.71美元，而市场预期为3.64美元。
  • 短评：思科系统公布了强劲的业绩，并发布了好于预期的财测，受益于企业支出增加和供应链约束缓解。该公司预计，客户将在7月本财年结束前完成大部分现有库存的安装。对思科产品的需求也在企稳。此外，由于降息预期有利，消费者和企业支出预计将上升。思科专注于人工智能基础设施领域的机会，管理层有信心到2025财年实现10亿美元的人工智能产品订单。24财年第四季度建议交易区间：50美至56美元。积极前景。

Grab Holdings Ltd (GRAB)

  • 1Q24 Revenue: $653M, +24%YoY, beat estimates by $10.6M
  • 1Q24 GAAP EPS: -$0.03, miss estimates by $0.02
  • FY24 Guidance: Reaffirm FY24 revenue projection at $2.70bn to $2.75bn. Raised its adjusted core profit between $250mn and $270mn this year, up from its previous forecast of $180mn to $200mn.
  • Share repurchase: Disclosed a $97mn repurchase of its Class A shares, part of a $500mn buyback plan announced in February.
  • Comment: Grab Holding’s Q1 revenue increased by 24% YoY to US$653 million, surpassing analysts’ estimates. This growth was driven by cost-reduction efforts and increased demand for its ride-share services. The company’s on-demand GMV rose 18% YoY, supported by strong underlying demand growth across deliveries and mobility. Grab’s food delivery and mobility businesses grew by 19% and 27%, respectively. It raised its full-year profit forecast after reporting higher-than-expected quarterly revenue, driven by cost-reduction measures and strong demand for its ride-share services. A major restructuring in 2023, which included cutting 1,000 jobs and reducing technology costs, is helping the company aim for positive free cash flow this year. The company now projects an adjusted core profit of US$250mn to US$270mn for the year, up from its previous forecast of US$180mn to US$200mn, while maintaining its revenue projection at US$2.70bn to US$2.75bn. Looking ahead, Grab will continue to benefit from the increase in tourism and corporate events in Southeast Asia, boosting its revenue growth across all segments. 2Q24 recommended trading range: $3.5 to $3.9. Positive Outlook.

Grab控股 (GRAB)

  • 24财年第一季营收：6.53亿美元，同比增幅24%，超预期1,060万美元
  • 24财年第一季GAAP每股亏损：0.03美元，超预期0.02美元
  • 24财年指引：重申24财年营收预期为27.7亿至27.5亿美元。今年调整后的核心利润在2.5亿美元至2.7亿美元之间，高于此前预测的1.8亿美元至2亿美元。
  • 股票回购：披露了9,700万美元的A类股票回购计划，这是2月份宣布的5亿美元回购计划的一部分。
  • 短评：Grab控股第一季度收入同比增长24%，达到6.53亿美元，超过分析师预期。这一增长是由降低成本的努力和对拼车服务的需求增加推动的。该公司的按需GMV同比增长18%，主要得益于快递和移动出行需求的强劲增长。Grab的外卖和移动业务分别增长了19%和27%。在成本削减措施和对拼车服务的强劲需求的推动下，该公司公布了高于预期的季度收入，并上调了全年利润预期。2023年的重大重组，包括裁员1000人和降低技术成本，正在帮助该公司瞄准今年的正自由现金流。该公司目前预计今年调整后的核心利润为2.5亿至2.7亿美元，高于此前预测的1.8亿至2亿美元，同时保持其收入预测在27.7亿至27.5亿美元。展望未来，Grab将继续受益于东南亚旅游和企业活动的增长，推动其在所有领域的收入增长。24财年第二季度建议交易区间：3.5美至3.9美元。积极前景。

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