Technical Analysis – 26 September 2023
United States | Singapore | Hong Kong | Earnings
Uranium Royalty Corp. (UROY US)
- Shares closed at a 52-week high with a surge in volume.
- MACD is positive, RSI is at an “overbought” level.
- Long – Entry 3.10, Target 3.30, Stop 3.00
Nexgen Energy Ltd. (NXE US)
- Shares closed at a 52-week high with a surge in volume.
- MACD is positive, RSI is at an “overbought” level..
- Long – Entry 6.30, Target 6.70, Stop 6.10
Geo Energy Resources Ltd. (GERL SP)
- Shares closed higher above the 50dEMA with a surge in volume. 20dEMA is about to cross the 50dEMA.
- MACD is positive, RSI is at an “overbought” level.
- Long – Entry 0.250, Target 0.270, Stop 0.240
Thai Beverage (THBEV SP)
- Shares closed higher above the 50dEMA with a surge in volume. 5dEMA is about to cross the 20dEMA and 50dEMA.
- MACD is about to turn positive, RSI is constructive.
- Long – Entry 0.580 Target 0.620 Stop 0.560
China Traditional Chinese Med Holdings. (570 HK)
- Shares closed higher above the 5dEMA with a surge in volume. 5dEMA just crossed the 50dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 3.50, Target 3.80, Stop 3.35
Wuxi Apptec Co. Ltd. (2359 HK)
- Shares closed above the 5dEMA. 50dEMA just crossed the 50dEMA.
- MACD is about to turn positive, RSI is constructive.
- Long – Entry 86.5, Target 92.5, Stop 83.50
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.
