Technical Analysis – 3 October 2023

United States | Singapore | Hong Kong | Earnings

Live Nation Entertainment, Inc. (LYV US)

Shares closed higher above the 50dEMA with a surge in volume. 5dEMA just crossed the 20dEMA and 200dEMA.
MACD is positive, RSI is constructive.
Long – Entry 84.0, Target 89.0, Stop 81.5

Ross Stores, Inc. (ROST US)

Shares closed higher at the 20dEMA. 20dEMA is about to cross the 50dEMA.
MACD is about to turn positive, RSI is turning constructive.
Long – Entry 114, Target 120, Stop 111

GuocoLand Ltd. (GUOL SP)

Shares closed at the 5dEMA with a surge in volume.
MACD is about to turn positive, RSI is constructive.
Long – Entry 1.54, Target 1.64, Stop 1.49

RH Petrogas Ltd. (RHP SP)

Shares closed at a 52-week high with a surge in volume over the past 2 days.
MACD is positive, RSI is at an “overbought” level.
Long – Entry 0.235 Target 0.255 Stop 0.225

Hua Hong Semiconductor Ltd (1347 HK)

Shares closed above the 20dEMA. The 5dEMA is about to cross the 20dEMA.
Both RSI and MACD are constructive.
Long – Entry 19.5, Target 21.3, Stop 18.6

Semiconductor Manufacturing International Corp (981 HK)

Shares closed above the 5dEMA.
RSI is constructive and MACD just turned positive.
Long – Entry 20, Target 22, Stop 19

Carnival Corp. (CCL)

3Q23 Revenue: $6.85B, +58.9% YoY, beats estimates by $160M
3Q23 Non-GAAP EPS: $0.86, beat estimates by $0.13
4Q24 Outlook: Adjusted EBITDA of $800mn to $900mn; Net yields (in constant currency) up mid-single digits compared to 2019 with occupancy in line with historical levels and net per diems (in constant currency) up 7.0% to 8.0% compared to 2019. FY2023 Outlook: Adjusted EBITDA of $4.1bn to $4.2bn, within the June guidance range, despite the $125mn net unfavorable impact from fuel price and currency from June guidance; Occupancy of 100% or higher; Net per diems (in constant currency) up approximately 7.0% compared to 2019, one percentage point higher than the midpoint of June guidance, based on the continued strength in close-in demand; Adjusted cruise costs excluding fuel per ALBD (in constant currency) at the high end of June guidance range; Fuel consumption per ALBD to be nearly 16% lower than 2019, better than previously expected.
Comment: The company reduced its loss forecast and saw a 3rd quarter profit attributed to higher ticket pricing and robust demand for cruise trips. Cruise liners such as Carnival, Norwegian Cruise Lines, and Royal Caribbean has been able to increase their ticket prices but still stay cheaper than hotels. This has been successful in drawing demand for experience through a cruise for consumers, instead of spending unnecessarily on big-ticket items. However, cruise liners also see some headwinds in the market as a result of higher fuel costs, as supply cuts drive up oil prices. 1Q24 recommended trading range: $10 to $18. Neutral 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。