KGI Research Singapore

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

Technical Analysis – 29 September 2023

United States | Singapore | Hong Kong | Earnings

Advanced Micro Devices Inc. (AMD US)

  • Shares closed higher above the 20dEMA with a surge in volume. 5dEMA is about to cross the 200dEMA.
  • MACD is about to turn positive, RSI is turning constructive.
  • Long Entry 102, Target 110, Stop 98

Applied Materials, Inc. (AMAT US)

  • Shares closed higher above the 5dEMA.
  • MACD is about to turn positive, RSI is turning constructive.
  • Long Entry 137, Target 147, Stop 132

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Dyna-Mac Holdings Ltd. (DMHL SP)

  • Shares closed above the 50dEMA with a surge in volume. 5dEMA is about to cross the 20dEMA and 50dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long Entry 0.400, Target 0.430, Stop 0.385

Jardine Cycle & Carriage. (JCNC SP)

  • Shares closed above the 20dEMA with a surge in volume. 5dEMA just crossed the 20dEMA.
  • MACD is positive, RSI is constructive.
  • Long Entry 32.40 Target 34.40 Stop 31.40

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China Unicom Hong Kong Ltd (762 HK)

  • Shares closed above the 5dEMA with an increase in volume. 
  • RSI is constructive, while MACD is negative.
  • Long – Entry 5.68, Target 6.00, Stop 5.52

Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd (874 HK)

  • Shares closed at a one-month high above the 50dEMA with a jump in volume. The 5dEMA is about to cross the 50dEMA.
  • RSI and MACD are constructive.
  • Long – Entry 22.40, Target 23.70, Stop 21.75

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Accenture plc. (ACN)

  • 4Q23 Revenue: $15.99B, +4.0% YoY, miss estimates by $80M
  • 4Q23 Non-GAAP EPS: $2.71, beat estimates by $0.08
  • 1Q24 Guidance: Expects revenue growth of 2% to 5% in local currency; GAAP diluted EPS of $11.41 to $11.76, a 6% to 9% increase; and adjusted EPS of $11.97 to $12.32, a 3% to 6% increase.
  • Comment: The anticipation of enduring elevated borrowing costs is compelling businesses to reassess their digital transformation strategies and technology expenditure, adversely affecting firms such as Accenture, which provides a spectrum of IT services encompassing strategic consulting and cloud migration. The company provided a weaker-than-expected outlook, signalling that the high inflation and interest rates would significantly impact enterprise spending through next year. With the Federal Reserve signalling that inflation is still sticky and another rate hike can be expected, the company is expected to face more headwinds due to rising interest rates going forward. 1Q24 recommended trading range: $280 to $310. Negative Outlook.  

埃森哲 (ACN) 

  • 23财年第四季营收:159.9亿美元, 同比增幅4.0%,逊预期8,000万美元 
  • 23财年第四季Non-GAAP每股盈利:2.71美元,超预期0.08美元  
  • 24财年第一季指引:按当地货币计算,预计收入增长2%至5%;GAAP摊薄后每股收益为11.41美元至11.76美元,增长6%至9%;调整后每股收益为11.97美元至12.32美元,增长3%至6%。
  • 短评:对持续上升的借贷成本的预期迫使企业重新评估其数字化转型战略和技术支出,这对埃森哲等公司产生了不利影响,埃森哲提供包括战略咨询和云迁移在内的一系列IT服务。该公司提供了弱于预期的前景,表明高通胀和利率将在明年对企业支出产生重大影响。由于美联储表示,通胀仍很棘手,预计可能会再次加息,预计该公司将面临更多阻力,因为未来利率将不断上升。24财年第一季度建议交易区间:280至310美元。负面前景。

Nike, Inc. (NKE)

  • 1Q24 Revenue: $12.94B, +2.0% YoY, miss estimates by $60M
  • 1Q24 GAAP EPS: $0.94, beat estimates by $0.18
  • FY24 Guidance: revenue growth in the mid-single digits and gross margin expansion of 1.4% to 1.6%.
  • Comment: The company’s sales fell by 2% in its largest market North America, but rose in all of its other markets. The management saw strength in consumer confidence and eased investors’ worries about any potential slowdown in China. The company also continue to see strong demand for its brands and products in China alongside the resumption of sporting activities such as the recent Hangzhou 19th Asian Games. While Nike saw a recovery of its business in China, the country is still showcasing a mixed bag in its economic recovery, with consumption levels still remaining relatively low with consumers cutting back on spending amidst an economic slowdown. Consumer confidence at a 4-month low in Nike’s biggest market also poses an additional challenge for the company. 2Q24 recommended trading range: $100 to $86. Neutral Outlook.  

耐克 (NKE) 

  • 24财年第一季营收:129.4亿美元, 同比增幅2.0%,逊预期6,000万美元 
  • 24财年第一季GAAP每股盈利:0.94美元,超预期0.11美元  
  • 24财年指引:营收增幅为中等个位数,毛利率增幅为1.4%至1.6%。


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