Technical Analysis – 28 October 2024

United States | Singapore | Hong Kong | Earnings

Southern Copper Corp. (SCCO US)

• Shares closed higher above the 5EMA with more volume.
  
• MACD is about to turn positive, RSI is constructive.
  
• Long – Entry 115 Target 125, Stop 110
  

Century Aluminium Co. (CENX US)

• Shares closed at a high since July 2024 with a surge in volume.
  
• MACD is positive, RSI is constructive.
  
• Long – Entry 18.0 Target 20.0, Stop 17.0
  

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SATS Ltd. (SATS SP)

• Shares closed at a 52-week high with a surge in volume. 5dEMA recently crossed the 20dEMA.
  
• MACD just turned positive, RSI is at an overbought level.
  
• Long – Entry 3.95, Target 4.25, Stop 3.80
  

First Resources Ltd. (FR SP)

• Shares closed at a high since August 2024 with a surge in volume. 5dEMA just crossed the 20dEMA.
  
• MACD just turned positive, RSI is constructive.
  
• Long – Entry 1.48 Target 1.56, Stop 1.44
  

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Xinte Energy Co Ltd (1799 HK)

• Shares closed higher above the 200dEMA with a surge in volume. 5dEMA recently crossed the 20dEMA and 50dEMA, 5dEMA is about to cross the 200dEMA.
  
• MACD is positive, RSI is constructive.
  
• Long – Entry 9.0, Target 10.0, Stop 8.5
  

Xinyi Solar Holdings Ltd. (968 HK)

• Shares closed above the 5dEMA with a surge in volume. 5dEMA just crossed the 20dEMA and 50dEMA.
  
• MACD just turned positive, RSI is constructive.
  
• Long – Entry 4.00, Target 4.60, Stop 3.70
  

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Colgate-Palmolive Co. (CL)

• 3Q24 Revenue: $5.03B, +2.2% YoY, beat estimates by $20M
  
• 3Q24 Non-GAAP EPS: $0.91, beat estimates by $0.03
  
• FY24 Guidance: Colgate anticipates net sales growth of 3% to 5% for 2024, up from the previous forecast of 2% to 5%, and expects organic sales growth of 7% to 8%, an increase from the earlier range of 6% to 8%. On a non-GAAP (Base Business) basis, the company continues to anticipate gross profit margin expansion and increased advertising investment, and it now expects earnings per share growth of 10% to 11%, up from the previous range of 8% to 11%.
  
• Comment: Colgate reported stronger-than-expected earnings and raised its FY24 guidance, supported by growth in both pricing and volumes. Sales were driven by a well-balanced mix of volume expansion and higher prices, with every operating division achieving volume growth. For the quarter, Colgate reinforced its leadership in oral care, holding a global market share of 41.6% in toothpaste and 32.3% in manual toothbrushes year-to-date. Looking ahead, the company anticipates sustained, robust advertising investments through the end of the year, focusing on strengthening brand health and enhancing capabilities to drive growth. Colgate also expects profit margins to expand and double-digit earnings per share growth, consistent with its prior outlook, alongside elevated advertising spending. The commencement of rate cut cycle is also likely to boost consumption level, benefitting Colgate. 4Q24 recommended trading range: $90 to $105. Positive Outlook.
  

高露洁 (CL)

• 24财年第三季营收：50.3亿美元，同比增幅2.2%，超预期2,000万美元
  
• 24财年第三季Non-GAAP每股盈利：0.91美元，超预期0.03美元
  
• 24财年指引：高露洁预计2024年净销售额将增长3%至5%，高于此前预测的2%至5%，有机销售额将增长7%至8%，高于此前预测的6%至8%。在Non-GAAP（基本业务）的基础上，该公司继续预计毛利率将扩大，广告投资将增加，目前预计每股收益将增长10%至11%，高于此前的8%至11%。
  
• 短评：在定价和销量双双增长的支撑下，高露洁公布了强于预期的盈利，并上调了其24财年指引。销量增长和价格上涨的良好平衡组合推动了销售，每个运营部门都实现了销量增长。本季度，高露洁巩固了其在口腔护理领域的领导地位，今年迄今为止，高露洁牙膏和手动牙刷的全球市场份额分别为41.6%和32.3%。展望未来，该公司预计到今年年底将持续强劲的广告投资，重点是加强品牌健康和提高推动增长的能力。高露洁还预计利润率将扩大，每股收益将实现两位数增长，与之前的预期一致，同时广告支出也将增加。下调利率周期的开始也有可能提高消费水平，高露洁将从中受益。24财年第四季度建议交易区间：90至105美元。积极前景。