Technical Analysis – 5 September 2023
United States | Singapore | Hong Kong | Earnings
Samsara Inc. (IOT US)
- Shares closed at a high with a surge in volume. 20dEMA just crossed the 50dEMA.
- MACD is positive, RSI is at an “overbought” level.
- Long – Entry 30.0, Target 33.0, Stop 28.5
Spotify Technology S.A. (SPOT US)
- Shares closed higher above the 5dEMA with constructive volume. The 5dEMA just crossed the 50dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 156, Target 170, Stop 149
ISDN Holdings Ltd. (ISDN SP)
- Shares closed higher above the 20dEMa with a surge in volume. The 5dEMA just crossed the 20dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 0.410, Target 0.440 Stop 0.395
City Development Ltd. (CIT SP)
- Shares closed above the 20dEMA with constructive volume.
- MACD just turned positive, RSI is turning constructive.
- Long – Entry 6.75 Target 7.15, Stop 6.55
Jiangxi Copper Co Ltd (358 HK)
- Shares closed above the 50dEMA with a jump in volume. The 5dEMA crossed the 20dEMA, 50dEMA and 200dEMA..
- RSI is constructive and MACD is positive.
- Long – Entry 12.80, Target 13.84, Stop 12.28
China Petroleum & Chemical Corp (386 HK)
- Shares closed above the 5dEMA with rising volume.
- Both RSI and MACD are constructive.
- Long – Entry 4.66, Target 5.00, Stop 4.49
Trip.com (TCOM)
- 2Q23 Revenue: $1.55B, +180% YoY, beat estimates by $70M
- 2Q23 Non-GAAP EPADS: $0.70, beat estimates by $0.20
- 2H23 Guidance: Domestic China travel market has already fully recovered and has outgrown the pre-pandemic level. The capacity of outbound flights further recovered to around 60% – 65% of the 2019 level in 2H23. Expect to continue to outpace the industry recovery in both the domestic Chinese and outbound travel market in 2H23.
- Comment: The company reported strong results for 2Q23, reflecting a strong recovery for its domestic and international business for 2Q23. Demand for both domestic and international travel has remained resilient. While there was limited air capacity recovery, there was still a higher demand QoQ for travel activities, reflecting the strong pent-up demand for travel. Travel demand is expected to remain strong as more borders open up and more consumers start to make plans to travel, despite the current harsh macroeconomic environment of sticky inflation and higher interest rates. Several countries have also reported increasing tourists, with some already nearing pre-pandemic levels, reflecting a strong travel demand. 3Q23 recommended trading range: $35 to $48. Positive Outlook.
携程 (TCOM)
- 23财年第二季营收：155亿美元, 同比增幅180%，超预期7,000万美元
- 23财年第二季Non-GAAP每股盈利：0.70美元，超预期0.20美元
- 23财年下半年指引：中国国内旅游市场已经完全恢复，并已超过疫情前的水平。预计到2023年下半年，出境航班运力进一步恢复到2019年水平的60%至65%左右。下半年公司在中国国内和出境旅游市场业务继续超过行业复苏。
- 短评：该公司公布了23年第二季度的强劲业绩，反映了其国内和国际业务在23年第二季度的强劲复苏。国内和国际旅游的需求依然强劲。虽然航空运力恢复有限，但旅游活动的季比需求仍较高，反映出被压抑的旅游需求强劲。尽管当前的宏观经济环境恶劣，通货膨胀和利率上升，但随着更多的边境开放和更多的消费者开始制定旅游计划，旅游需求预计将保持强劲。一些国家也报告游客人数增加，有些国家已经接近大流行前的水平，反映出强劲的旅行需求。23财年第三季度建议交易区间：35美元至48美元。积极前景。
