Technical Analysis – 6 June 2024
United States | Singapore | Hong Kong | Earnings
Meta Platforms, Inc. (META US) 
- Shares closed at a 2-month high above the 5dEMA. 5dEMA recently crossed the 20dEMA and 50dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 490, Target 520, Stop 475
Super Micro Computer, Inc. (SMCI US)
- Shares closed higher above the 5dEMA.
- MACD is about to turn positive, RSI is turning constructive.
- Long – Entry 795, Target 865, Stop 760
Frencken Group Ltd. (FRKN SP)
- Shares closed at a high since Apr 2024 with a surge in volume. 5dEMA just crossed the 50dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 1.51, Target 1.61, Stop 1.46
Centurion Corp. Ltd. (CENT SP)
- Shares closed higher above the 5dEMA with increasing volume.
- MACD is about to turn positive, RSI is constructive.
- Long – Entry 0.540, Target 0.570, Stop 0.525
Sunny Optical Technology Group Co. Ltd. (2382 HK)
- Shares closed at a high since Mar 2024 with higher volume. 5dEMA recently crossed the 50dEMA and 20dEMA is about to cross the 50dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 46.0, Target 50.0, Stop 44.0
Hua Hong Semiconductor Ltd. (1347 HK)
- Shares closed at a high since Nov 2023 with higher volume. 20dEMA just crossed the 200dEMA.
- MACD is positive, RSI is constructive.
- Long – Entry 20.70, Target 22.70, Stop 19.70
Dollar Tree Inc. (DLTR)
- 1Q24 Revenue: $7.63B, +4.1% YoY, miss estimates by $40M
- 1Q24 Non-GAAP EPS: $1.43, in-line with estimates
- 2Q24 Guidance: Expect consolidated net sales between $7.3bn to $7.6bn vs consensus of $7.60bn; Adjusted diluted EPS estimated to be in the range of $1.00 to $1.10 vs consensus of $1.20. FY24 Guidance: Re-iterated FY24 outlook; Expects consolidated net sales outlook range of $31.0bn to $32.0bn vs consensus of $31.4bn; Adjusted diluted EPS between $6.50 to $7.00 vs consensus of $6.90.
- Comment: Dollar Tree reported mixed results and reaffirmed its FY24 outlook. The company’s performance was bolstered by gains in both the Dollar Tree and Family Dollar segments, increased traffic, and significant market share growth. However, challenges such as product cost inflation, an unfavorable sales mix, and higher shrinkage persisted. The company is focused on rapidly expanding its next-generation multi-price stores under the Dollar Tree brand and positioning Family Dollar stores for long-term growth. As part of a strategic review, Dollar Tree is considering selling Family Dollar, which has faced operational difficulties in recent years. The company previously announced the closure of nearly 1,000 Family Dollar stores out of approximately 8,000. Additionally, Dollar Tree recently acquired leases for 170 stores from 99 Cents Only in Arizona, California, Nevada, and Texas, with plans to reopen them under the Dollar Tree brand starting in the fall. 2Q24 recommended trading range: $100 to $130. Neutral Outlook.
美元树 (DLTR)
- 24财年第一季营收：76.3亿美元，同比增幅4.1%，逊预期4,000万美元
- 24财年第一季Non-GAAP每股盈利：1.43美元，符合预期
- 24财年第二季指引：预计合并净销售额在73亿美元至76亿美元之间，而市场预期为76亿美元；调整后的稀释每股收益估计在1.00美元至1.10美元之间，而市场预期为1.20美元。24财年指引：重申了24财年展望；预计合并净销售额前景范围为310亿美元至320亿美元，而市场预期为314亿美元；调整后的稀释每股收益在6.50美元至7.00美元之间，而市场预期为6.90美元。
- 短评：美元树公布了喜忧参半的业绩，并重申了其24财年的前景。该公司的业绩得益于美元树和家庭美元业务的增长、流量的增加和市场份额的显著增长。然而，诸如产品成本膨胀、不利的销售组合和更高的收缩率等挑战仍然存在。该公司专注于快速扩展美元树品牌下的下一代多价格商店，并为长期增长定位“家庭美元“商店。作为战略评估的一部分，公司正考虑出售近年来面临经营困难的家庭美元。该公司此前宣布关闭约8000家家庭美元店中的近1000家。此外，公司最近在亚利桑那州、加利福尼亚州、内华达州和德克萨斯州从99 Cents Only获得了170家门店的租约，并计划从秋季开始以美元树品牌重新开业。24财年第二季度建议交易区间：100美至130美元。中性前景。
Lululemon Athletica Inc. (LULU)
- 1Q24 Revenue: $2.21B, +10.5% YoY, beat estimates by $10M
- 1Q24 GAAP EPS: $2.54, beat estimates by $0.12
- 2Q24 Guidance: Expect net revenue to be in the range of $2.4bn – $2.42bn, vs consensus of $2.45bn, representing a growth of 9% to 10%; Expect diluted EPS to be in the range of $2.92 to $2.97 vs consensus of $3.03. FY24 Guidance: Expect FY24 net revenue to be in the range of $10.7bn to $10.8bn vs consensus of $10.76bn, representing a growth of 11% to 12% (or 10% to 11% excluding the 53rd week of 2024); Expects operating margin to be approximately 23.3%; Expect diluted EPS to be in the range of $14.27 to $14.47 vs $14.14 consensus.
- Comment: Lululemon reported strong results but issued weak 2Q24 guidance due to a slowdown in its largest market, the Americas. The company increased its stock repurchase program by $1 billion and remains optimistic about the strong momentum in its international markets. However, Lululemon acknowledges the need to enhance its performance in the Americas. The company is focused on optimizing its U.S. product assortment, which previously affected sales due to inventory issues with sizes and colors. Anticipating a better inventory position in the second half of the year, Lululemon raised its full-year profit outlook. Additionally, the company announced the resignation of its longtime Chief Product Officer, Sun Choe. 2Q24 recommended trading range: $320 to $380. Neutral Outlook.
露露柠檬 (LULU)
- 24财年第一季营收：22.1亿美元，同比增幅10.5%，超预期1,000万美元
- 24财年第一季每股盈利：2.54美元，超预期0.12美元
- 24财年第二季指引：预计净收入将在24亿至24.2亿美元之间，而市场预期为24.5亿美元，增长9%至10%；预计稀释后每股收益将在2.92美元至2.97美元之间，而市场预期为3.03美元。24财年指引：预计24财年净收入将在107亿至108亿美元之间，而市场预期为107.6亿美元，增长率为11%至12%（或10%至11%，不包括2024年第53周）；预计营业利润率约为23.3%；预计稀释后每股收益将在14.27美元至14.47美元之间，而市场预期为14.14美元。
- 短评：露露柠檬公布了强劲的业绩，但由于其最大市场美洲的放缓，发布了较弱的24年第二季度指引。该公司将其股票回购计划增加了10亿美元，并对其国际市场的强劲势头保持乐观。然而，露露柠檬承认有必要提高其在美洲的表现。该公司正专注于优化其在美国的产品分类，此前由于尺寸和颜色的库存问题影响了销售。由于预计下半年库存状况会更好，露露柠檬上调了全年利润预期。此外，该公司还宣布长期担任首席产品官的Sun Choe辞职。24财年第二季度建议交易区间：320美至380美元。中性前景。
