KGI Research Singapore

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

Technical Analysis – 21 December 2023

United States | Singapore | Hong Kong | Earnings

CVS Health Corp. (CVS US)

  • Shares closed higher above the 5dEMA with constructive volume. 20dEMA is about to cross the 200dEMA.
  • MACD is positive, RSI is at an “overbought” level.
  • Long – Entry 76.5, Target 81.5, Stop 74.0

Burlington Stores, Inc. (BURL US)

  • Shares closed higher above the 5dEMA with constructive volume. 50dEMA is about to cross the 200dEMA.
  • MACD is about to turn positive, RSI is at an “overbought” level.
  • Long – Entry 187, Target 207, Stop 177

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Geo Energy Resources Ltd. (GERL SP)

  • Shares closed higher above the 5dEMA with a surge in volume.
  • MACD is positive, RSI is at an “overbought” level.
  • Long – Entry 0.32, Target 0.36, Stop 0.30

Rex International Holding Ltd. (REXI SP)

  • Shares closed higher at the 200dEMA with constructive volume. 5dEMA just crossed the 50dEMA and the 20dEMA is about to cross the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 0.178, Target 0.198, Stop 0.168

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Wynn Macau Ltd. (1128 HK)

  • Shares closed higher above the 20dEMA with a surge in volume. 5dEMA is about to cross the 20dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 6.20, Target 6.80, Stop 5.90

Sands China Ltd. (1928 HK)

  • Shares closed higher above the 50dEMA with a surge in volume.
  • MACD is positive, RSI is constructive.
  • Long – Entry 22.2, Target 24.2, Stop 21.2

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Micron Technologies, Inc. (MU)

  • 1Q24 Revenue: $4.73B, +15.6% YoY, beat estimates by $100M.
  • 1Q24 Non-GAAP EPS: –$0.95, beat estimates by $0.06
  • 1Q24 Dividend: Micron declares $0.115/share quarterly dividend, in line with previous. Payable Jan. 18, for shareholders of record Jan. 2, ex-div Dec. 29.
  • 2Q24 Guidance: Revenue $5.30 billion ± $200 million vs. consensus of $5.05B, Gross margin 13.0% ± 1.5%, EPS ($0.28) ± $0.07 vs. consensus of -$0.61.
  • Comment: Micron is optimistic about 2024, anticipating improving business fundamentals and record market size by 2025. Well-positioned to leverage AI’s vast potential across end markets, the company expects “several hundred million” in high-bandwidth memory revenue next year, with continued growth in 2025. Lower interest rates in 2024 should further boost consumption as companies ramp up AI investments. 2Q24 recommended trading range: $75 to $95. Positive Outlook.

美光科技(MU)

  • 24财年第一季营收：47.3亿美元, 同比增幅15.6%，超预期1亿美元
  • 24财年第一季Non-GAAP每股亏损：0.95美元，超预期0.06美元
  • 24财年股息：美光宣布每股0.115美元的季度股息，与之前一致。1月18日付款，1月2日为股东登记，12月29日结束。
  • 24财年第二季指引：营收53亿美元±2亿美元，市场预期为50.5亿美元，毛利率13.0%±1.5%，每股收益(0.28美元)±0.07美元，市场预期为-0.61美元。
  • 短评：美光对2024年持乐观态度，预计到2025年业务基本面将改善，市场规模将达到创纪录水平。为了充分利用人工智能在终端市场的巨大潜力，该公司预计明年的高带宽内存收入将达到“数亿美元”，并在2025年继续增长。随着企业加大人工智能投资，2024年较低的利率应该会进一步提振消费。24财年第二季度建议交易区间：80美至95美元。积极前景。

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