KGI Research Singapore

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

Technical Analysis – 24 May 2024

United States | Singapore | Hong Kong | Earnings

e.l.f Beauty, Inc. (ELF US) A graph of stock market Description automatically generated

  • Shares closed higher above the 50dEMA with a surge in volume. 5dEMA just crossed the 20dEMA and is about to cross the 50dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 182, Target 202, Stop 172

On Holding AG (ONON US)

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  • Shares closed at a 52-week high above the 5dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 38.0, Target 41.0, Stop 36.5

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Yangzijiang Shipbuilding (Holdings) Ltd. (YZJSGD SP)

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  • Shares closed higher above the 5dEMA with a surge in volume. 5dEMA just crossed the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 1.82, Target 1.92, Stop 1.77

ISDN Holdings Ltd. (ISDN SP)

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  • Shares closed higher above the 50dEMA. 5dEMA just crossed the 50dEMA and 20dEMA is about to cross the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 0.310, Target 0.350, Stop 0.290

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CSOP Hang Seng Index Daily -2x Inverse Product (7500 HK)

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  • Shares closed above the 5dEMA with an increase in volume.
  • Both MACD and RSI turned positive.
  • Long – Entry 4.76, Target 5.14, Stop 4.57
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CSOP Hang Seng TECH Index Daily -2x Inverse Product (7552 HK)

  • Shares closed above the 5dEMA with rising volume.
  • RSI is constructive and MACD is positive.
  • Long – Entry 5.30, Target 5.88, Stop 5.01

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NetEase, Inc. (NTES)

  • 1Q24 Revenue: $3.7B, +7.2% YoY, in line with estimates
  • 1Q24 Non-GAAP EPADS: $1.84, beat estimates by $0.12
  • FY24 Guidance: No guidance provided.
  • 1Q24 Dividend: The company announced a dividend of $0.495 per ADS for 1Q24, payable on June 17 for holders of ordinary shares and on or around June 21 for holders of ADSs.
  • Comment: NetEase reported mixed results, and reported net income below expectations. Revenue from games and related value-added services increased by 7.0% YoY to $3.0bn, with gross margin rising by 280 basis points to 69.5%. Other business segments also experienced revenue growth. With a diverse portfolio of high-quality games, the company highlights that it remains well-positioned to expand its global reach. At its annual product launch, NetEase announced updates on over 10 new titles, including the highly-anticipated triple-A game “Where Winds Meet,” set for release in July, amid strong domestic competition. The approval of 95 new video games in China in April and 96 in May also indicates a recovering gaming market. Additionally, NetEase repurchased approximately 8.9mn ADSs for $811mn as part of its $5.0bn stock buyback program announced in 2022. 2Q24 recommended trading range: $90 to $112. Positive Outlook.

网易 (NTES)

  • 24财年第一季营收：37.0亿美元，同比跌幅7.2%，符合预期
  • 24财年第一季Non-GAAP每股盈利：1.84美元，超预期0.12美元
  • 24财指引：不提供指引。
  • 24财第一季度股息：该公司宣布第一季度每股美国存托凭证的股息为0.495美元，普通股持有人将于6月17日支付股息，美国存托凭证持有人将于6月21日或前后支付股息。
  • 短评：网易财报喜忧参半，净利润低于预期。游戏及相关增值服务收入同比增长7.0%至30亿美元，毛利率上升280个基点至69.5%。其他业务部门也经历了收入增长。凭借多样化的高质量游戏组合，该公司强调，它仍然处于扩大其全球影响力的有利地位。在其年度产品发布会上，网易宣布了10多款新游戏的更新，其中包括备受期待的3A级游戏《风相遇的地方》，该游戏将于7月在国内激烈的竞争中发布。中国4月份和5月份分别批准了95款和96款新视频游戏，这也表明游戏市场正在复苏。此外，作为2022年宣布的50亿美元股票回购计划的一部分，网易以8.11亿美元的价格回购了约890万股美国存托凭证。24财年第二季度建议交易区间：90美至112美元。中性前景。

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