Technical Analysis – 25 September 2023
United States | Singapore | Hong Kong | Earnings
Uranium Energy Corp. (UEC US)
- Shares closed higher above the 5dEMA with constructive volume.
- MACD is about to turn positive, RSI is constructive.
- Long – Entry 5.10, Target 5.40, Stop 4.95
Energy Fuels. (UUUU US)
- Shares closed higher above 5dEMA with constructive volume.
- MACD is positive, RSI is constructive.
- Long – Entry 8.10, Target 8.60, Stop 7.85
Starhub Ltd. (STH SP)
- Shares closed higher above the 5dEMA with a surge in volume. 50dEMA is about to cross the 200dEMA.
- MACD is positive, RSI is at an “overbought” level.
- Long – Entry 1.11, Target 1.15, Stop 1.09
Marco Polo Marine Ltd. (MPM SP)
- Shares closed higher above the 50dEMA with a surge in volume. 5dEMA just crossed the 200dEMA and is about to cross the 20dEMA.
- MACD is positive, RSI is constructive.
Long – Entry 0.049 Target 0.053 Stop 0.047
Cowell E Holdings. (1415 HK)
- Shares closed higher above the 5dEMA with a surge in volume.
- MACD just turned positive, RSI is constructive.
- Long – Entry 16.0, Target 17.4, Stop 15.3
ZTE Corp. (763 HK)
- Shares closed above the 20dEMA. 5dEMA is about to cross the 20dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 24.50, Target 26.50, Stop 23.50
FedEx Corp. (FDX)
- 1Q24 Revenue: $21.7B, -6.5% YoY, miss estimates by $130M
- 1Q24 Non-GAAP EPS: $4.55, beat estimates by $0.80
- FY24 Guidance: Approximately flat revenue year over year, compared to the prior forecast of flat to low-single-digit-percent revenue growth; Earnings per diluted share of $17.00 to $18.50 vs. consensus of $17.71 before the MTM retirement plans accounting adjustments after also excluding costs related to business optimization initiatives, compared to the prior forecast of $16.50 to $18.50;
- Comment: FedEx profit for 1Q24 rose despite a drop in revenue, showing that the company’s cost cutting efforts are producing results, bossing FedEX’s margins. The company grounded certain flights and adjusted staffing due to lower shipping volumes to reduce expenses, as part of their cost cutting strategy. Going forward, management also mention that they are likely to see a muted “peak” season with relatively lower demand. However the company also also benefitted from more volumes as several customers from UPS shifted over to FedEx due to the uncertainties between UPS and Teamster. 2Q24 recommended trading range: $250 to $290. Positive Outlook.
