Technical Analysis – 29 May 2024

Shares closed higher above the 200dEMA. 20dEMA recently crossed the 50dEMA and 5dEMA is about to cross the 200dEMA.
MACD is positive, RSI is constructive.
Long – Entry 6.75, Target 7.35, Stop 6.45

Shares closed higher above the 200dEMA with a surge in volume. 5dEMA just crossed the 200dEMA and 20dEMA just crossed the 50dEMA.
MACD is positive, RSI is constructive.
Long – Entry 9.60, Target 9.90, Stop 9.45

Shares closed at a high since Feb 2024 with a surge in volume. 20DEMA recently crossed the 50dEMA.
MACD is about to turn positive, RSI is at an “overbought” level.
Long – Entry 0.800, Target 0.870, Stop 0.775

Futu Holdings Ltd. (FUTU)

1Q24 Revenue: $331.3M, +3.7% YoY, beat estimates by $3.57M
1Q24 GAAP EPADS: $0.95, beat estimates by $0.07
FY24 Guidance: The company raised its FY24 new paying client guidance to 400 thousands for now.
Comment: Futu Holdings reported better-than-expected results and raised its FY24 guidance. The number of paying clients increased by 23.5% YoY to 1,887,270, while registered clients rose by 15.4%. Strong double-digit growth in new paying clients was recorded in both Hong Kong and Singapore sequentially. In Malaysia, the company’s recent launch exceeded expectations, attracting over 100,000 registered clients within six weeks and becoming the most downloaded financial app in the country, highlighting its industry-leading product experience and high brand recognition. Futu Holdings expects trading volume in Hong Kong to remain robust as market sentiment improves and clients pursue the market rally. Growth in wealth management was observed in the U.S. and Singapore markets, driven by strong demand for U.S. treasury bills, and bond holdings, and increasing traction in money market funds. The company continues to provide value to shareholders through its share buyback program, with plans to purchase up to US$500mn worth of its ADSs by the end of 2025, funded from its existing cash reserves. 2Q24 recommended trading range: $67 to $95. Positive Outlook.

富途控股 (FUTU)

24财年第一季营收：3.313亿美元，同比增幅3.7%，超预期357万美元
24财年第一季GAAP每股盈利：0.95美元，超预期0.07美元
24财指引：目前该公司将其24财年新付费客户预期上调至40万。
短评：富途控股公布了好于预期的业绩，并上调了24财年指引。付费客户数量同比增长23.5%至1,887,270，注册客户数量同比增长15.4%。香港和新加坡的新付费客户连续录得两位数的强劲增长。在马来西亚，该公司最近推出的产品超出预期，在六周内吸引了超过10万名注册客户，成为该国下载量最高的金融应用程序，突出了其行业领先的产品体验和高品牌认知度。富途控股预计，随着市场情绪改善和客户追求市场反弹，香港的交易量将保持强劲。美国和新加坡市场的财富管理业务出现增长，主要受美国国库券和债券需求强劲以及货币市场基金吸引力增强的推动。该公司继续通过其股票回购计划为股东提供价值，计划在2025年底前从现有现金储备中购买价值高达5亿美元的美国存托凭证。24财年第二季度建议交易区间：67美至95美元。积极前景。