KGI Research Singapore

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

Technical Analysis – 22 October 2024

United States | Singapore | Hong Kong | Earnings

Uranium Royalty Corp. (UROY US) A graph of stock market Description automatically generated

  • Shares closed at a high since Feb 2024 with a surge in volume. 50dEMA just crossed the 200dEMA.
  • MACD is positive, RSI is at an overbought level.
  • Long – Entry 3.05 Target 3.35, Stop 2.90
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Energy Fuels, Inc. (UUUU US)

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  • Shares closed at a high since June 2024 with a surge in volume. 20dEMA is about to cross the 200dEMA.
  • MACD is positive, RSI is at an overbought level.
  • Long – Entry 6.85 Target 7.65, Stop 6.45

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COSCO SHIPPING International Singapore Co Ltd. (COS SP)

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  • Shares closed at a high since August 2024 above the 200dEMA with a surge in volume. 5dEMA just crossed the 200dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 0.146, Target 0.160, Stop 0.139
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Riverstone Holdings Ltd. (RSTON SP)

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  • Shares closed higher above the 50dEMA. 5dEMA just crossed the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 0.92 Target 1.00, Stop 0.88

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CGN Mining Co Ltd (1164 HK)

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  • Shares closed at a 2-month high above the 200dEMA with an increase in volume.
  • Both RSI and MACD are constructive.
  • Long – Entry 1.94, Target 2.14, Stop 1.84
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China Hongqiao Group Ltd (1378 HK)

  • Shares closed above the 5wEMA.
  • RSI is constructive and MACD is positive.
  • Long – Entry 13.4, Target 14.4, Stop 12.9

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SAP SE. (SAP)

  • 3Q24 Revenue: €8.47B, +9.4% YoY, beat estimates by €20M
  • 3Q24 Non-GAAP EPS: €1.23, beat estimates by €0.03
  • FY24 Guidance: SAP updated its cloud and software revenue, operating profit and free cash flow outlook. Expects cloud and software revenue to be in the range of €29.5bn to €29.8bn, compared to a previous range of €29.0bn to €29.5bn; Expects operating profit to be in the range of €7.8bn to €8.0bn, compared to a previous range of €7.6bn to €7.9bn; Expects free cash flow to be in the range of €3.5bn to €4.0bn, compared to a previous outlook of approximately €3.5bn. The company also expects €17.0bn to €17.3bn in cloud revenue at constant currencies, up 24% to 27% YoY.
  • Comment: SAP delivered strong results this quarter, driven by impressive growth in its cloud revenue, particularly within its Cloud ERP Suite. The company is also advancing significantly in the realm of Business AI, with innovative solutions like SAP Knowledge Graph leading the way. Notably, a large portion of SAP’s Q3 cloud deals included AI-driven use cases, reflecting the growing integration of AI into its offerings. Looking ahead to Q4, SAP aims to sustain this momentum despite the current market volatility. As more companies adopt AI, SAP is well-positioned to capitalize on the rising demand for cloud services. Additionally, the commencement of the rate cut cycle could further boost consumption, providing a tailwind for SAP’s growth. 4Q24 recommended trading range: $225 to $260. Neutral Outlook.

SAP (SAP)

  • 24财年第三季营收：84.7亿欧元，同比增幅9.4%，超预期2,000万欧元
  • 24财年第三季Non-GAAP每股盈利：1.23欧元，超预期0.03欧元
  • 24财年指引：SAP更新了其云计算和软件收入、营业利润和自由现金流预期。预计云和软件收入将在295亿欧元至298亿欧元之间，而此前的收入范围为290亿欧元至295亿欧元；预计营业利润将在78亿欧元至80亿欧元之间，而此前的预期为76亿欧元至79亿欧元；预计自由现金流将在35亿欧元至40亿欧元之间，而此前的预期约为35亿欧元。该公司还预计，按固定汇率计算，云计算收入将达到170亿至173亿欧元，同比增长24%至27%。
  • 短评：SAP本季度的业绩表现强劲，这主要得益于其云业务收入的强劲增长，尤其是云ERP套件。该公司在商业人工智能领域也取得了重大进展，以SAP Knowledge Graph等创新解决方案引领潮流。值得注意的是，SAP第三季度的云交易中有很大一部分包括人工智能驱动的用例，这反映出人工智能越来越多地融入其产品中。展望第四季度，尽管目前市场波动，SAP的目标是保持这一势头。随着越来越多的公司采用人工智能，SAP处于有利地位，可以利用对云服务不断增长的需求。此外，降息周期的开始可能会进一步刺激消费，为SAP的增长提供推动力。24财年第四季度建议交易区间：225至260美元。积极前景。

Logitech International S.A. (LOGI)

  • 2Q25 Revenue: $1.12B, +5.6% YoY, in-line with estimates
  • 2Q25 GAAP EPS: $0.95, beat estimates by $0.11
  • FY25 Guidance: Expect its full-year sales in the range of $4.39bn to $4.47bn, up from its previous guidance $4.34bn to $4.43bn.
  • Comment: Logitech International exceeded earnings expectations and raised its full-year outlook, driven by strong performance and increased demand in the second quarter. Management remains optimistic about sustained business momentum for the remainder of the fiscal year. The results also mark a return to sales growth for Logitech, which had faced softer demand after the pandemic-fueled surge as people purchased its products for remote work during lockdowns. Looking ahead, global PC demand is projected to accelerate by late 2024 and into the first half of 2025, with stronger growth expected as the PC refresh cycle peaks. This recovery, combined with increased consumer spending as interest rates decline, positions Logitech to benefit from the improving market conditions. 3Q25 recommended trading range: $86 to $102. Positive Outlook.

罗技国际 (LOGI)

  • 25财年第二季营收：11.2亿美元，同比增幅5.6%，符合预期
  • 25财年第二季GAAP每股盈利：0.95美元，超预期0.11美元
  • 25财年指引：预计其全年销售额将在43.9亿美元至44.7亿美元之间，高于此前43.4亿美元至44.3亿美元的预期。
  • 短评：受第二季度强劲业绩和需求增加的推动，罗技国际超出了盈利预期，并上调了全年预期。管理层对本财年剩余时间的持续业务势头保持乐观。这一结果也标志着罗技的销售恢复增长，在疫情推动激增后，该公司面临需求疲软，因为人们在封锁期间购买了罗技的产品以进行远程工作。展望未来，全球PC需求预计将在2024年底和2025年上半年加速增长，随着PC更新周期达到顶峰，预计将出现更强劲的增长。这种复苏，加上利率下降带来的消费者支出增加，使罗技能够从不断改善的市场环境中受益。25财年第三季度建议交易区间：86至102美元。积极前景。