KGI Research Singapore

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

Technical Analysis – 27 September 2023

United States | Singapore | Hong Kong | Earnings

The Kraft Heinz Co. (KHC US)

  • Shares closed higher above the 50dEMA with constructive volume. 5dEMA is about to cross the 50dEMA.
  • MACD is positive, RSI is constructive.
  • Long – Entry 34.4, Target 36.4, Stop 33.40

Mondelez International, Inc. (MDLZ US)

  • Shares closed higher above the 200dEMA with a surge in volume.
  • MACD is about to turn positive, RSI is turning constructive.
  • Long – Entry 70.0, Target 74.0, Stop 68.0

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Food Empire Holdings Ltd. (FEH SP)

  • Shares closed at a high since Jul 23 above the 5dEMA, with constructive volume.
  • MACD is positive, RSI is constructive.
  • Long – Entry 1.11, Target 1.17, Stop 1.08

Comfort Delgro (CD SP)

  • Shares closed higher above the 50dEMA with a surge in volume.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 1.28 Target 1.34 Stop 1.25

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CGN Mining Co Ltd (1164 HK)

  • Shares closed at a high since October 2021, rising above the 5dEMA with a surge in volume. 
  • MACD is constructive, while RSI is at an overbought level.
  • Long – Entry 1.36, Target 1.50, Stop 1.29

Lygend Resources & Technology Co Ltd (2245 HK)

  • Shares closed at the 20dEMA. The 5dEMA is about to cross the 20dEMA.
  • Both MACD and RSI are constructive.
  • Long – Entry 7.40, Target 7.90, Stop 7.15

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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.  

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