Technical Analysis – 22 January 2024
United States | Singapore | Hong Kong | Earnings
Adobe Inc. (ADBE US)
- Shares closed higher above the 5dEM with constructive volume.
- MACD is positive, RSI is constructive.
- Long – Entry 605, Target 655, Stop 580
Docusign, Inc. (DOCU US)
- Shares closed higher above the 5dEMA.
- MACD just turned positive, RSI is constructive.
- Long – Entry 62.0, Target 67.0, Stop 59.5
Frencken Group Ltd. (FRKN SP)
- Shares closed higher above the 5dEMA with constructive volume. 5dEMA is about to cross the 20dEMA.
- MACD is about to turn positive, RSI is constructive.
- Long – Entry 1.30, Target 1.40, Stop 1.25
UMS Holdings Ltd. (USMH SP)
- Shares closed higher above the 5dEMA.
- MACD just turned positive, RSI is constructive.
- Long – Entry 1.31, Target 1.39, Stop 1.27
CGN Power Co Ltd (1816 HK)
- Shares closed above the 5dEMA.
- RSI is constructive, while MACD is negative.
- Long – Entry 2.12, Target 2.24, Stop 2.06
COSCO SHIPPING Ports Ltd (1199 HK)
- Shares closed above the 50dEMA.
- RSI is positive, while MACD is negative.
- Long – Entry 5.34, Target 5.70, Stop 5.16
Charles Schwab Corp (SCHW)
- 4Q23 Revenue: $4.46B, -18.8% YoY, miss estimates by $30M
- 4Q23 Non-GAAP EPS: $0.68 beat estimates by $0.04
- FY24 Guidance: No Guidance provided. The company aims for net interest margin to be 3% before the end of 2025, as well as a longer-term goal of a 20% to 30% dividend payout ratio, plus buybacks.
- Comment: Charles Schwab reported mixed results with declines in profit, new assets and deposits during a challenging year marked by interest rate hikes. In the fourth quarter, net new assets fell by 48%, net income dropped by nearly half, and bank deposits declined by 21%. The company’s total retail brokerage accounts also fell short of analyst estimates. Despite these challenges, it aims to address funding issues, repay higher-cost borrowings, and sees potential for growth in net interest margin and a dividend payout ratio. The firm reported a 29% decline in net interest revenue but added US$306 billion in core net new assets during the 2023 fiscal year, reaching a record US$8.52 trillion in total client assets at year-end, up 21% YoY. As the company pays down its higher-cost borrowings and continues to reinvest its securities portfolio, it will enable the firm to grow its earnings potential in the long term. 1Q24 recommended trading range: $60 to $70. Neutral Outlook.
嘉信理财 (SCHW)
- 23财年第四季营收：44.6亿美元, 同比跌幅18.8%，逊预期3,000万美元
- 23财年第四季Non-GAAP每股盈利：0.68美元，超预期0.04美元
- 24财年指引：不提供指引。该公司的目标是到2025年底净息差达到3%，长期目标是派息率达到20%至30%，再加上回购。
- 短评：嘉信理财公布了喜忧参半的业绩，在利率上调、充满挑战的一年里，公司利润、新增资产和存款均有所下降。在第四季度，净新增资产下降了48%，净利润下降了近一半，银行存款下降了21%。该公司的零售经纪账户总额也低于分析师的预期。尽管面临这些挑战，但它的目标是解决资金问题，偿还成本较高的借款，并看到净息差和股息支付率的增长潜力。该公司报告称，净利息收入下降了29%，但在2023财年，核心净新资产增加了3,060亿美元，截至年底，客户总资产达到创纪录的8.52万亿美元，同比增长21%。随着公司偿还其成本较高的借款并继续对其证券投资组合进行再投资，这将使公司能够长期增长其盈利潜力。24财年第一季度建议交易区间：60美至70美元。中性前景。
