{"id":34420,"date":"2023-10-19T07:15:00","date_gmt":"2023-10-18T23:15:00","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=34420"},"modified":"2023-10-19T15:34:58","modified_gmt":"2023-10-19T07:34:58","slug":"technical-analysis-19-october-2023","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-19-october-2023\/","title":{"rendered":"Technical Analysis &#8211; 19 October 2023"},"content":{"rendered":"\n<p class=\"has-cyan-bluish-gray-background-color has-background wp-block-paragraph\" id=\"top\"><a href=\"#us\">United States<\/a> |<a href=\"#sg\"> Singapore<\/a> |<a href=\"#hk\"> Hong Kong<\/a> |<a href=\"#ea\"> Earnings<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"us\"><img fetchpriority=\"high\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-54.png\" class=\"wp-image-15016\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-54.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-54-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">Valero Energy Corp. (VLO US)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/PzyyH57eBDG2Y2X3cZPN7ntF46Z9EdyT56zTLmCmbrgaVSKq-JBBMdFVYkzwUd-HJCMwO3v99FCa91CI6sK_c6E9AA13bBQNerM_sv5Ui3b8UVjm2e1xAMVL_oCcGyT9pqi7yNxFRIn0XCBQRStiEFw\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed higher above the 50dEMA with constructive volume. 5dEMA is about to cross the 20dEMA and 50dEMA.<\/li><li>MACDis about to turn positive, RSI is constructive.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 132, Target 142, Stop 127<\/strong><\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/yAyFqLu4gxi8PEWsjNjeUVGBB-GTTggh9G4OosNDdoC-iHbYLdU4-3R4nqPAptFXLbhZrv4--nlC1y7bBQ_pBuPsfuPMzEZSn92Wp9deuYwo1ztkL4s3MRVicpChdK2ebj8Q1gSPnw_slNW4QBygwBY\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Marathon Petroleum Corp. (MPC US)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/X5jvlGJmpxj2V-APepnDlNtPNLJG2Db5gT1FMTYQo0FdOoA_fdRUgs-RoGJGbzV3EwQjOhh5oBIGjO_DnHwHMyNEwC8_ktI_yaoCdIeeyUt95Dx6XtYlJutdB90cVcxlDbNn2S2VXXlTVNFNGpD9zIQ\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed higher above the 5dEMA. 5dEMA recently crossed the 20dEMA.<\/li><li>MACD just turned positive, RSI is constructive.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 153, Target 159, Stop 150<\/strong><\/li><\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\">Back To Top<\/a> <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-58.png\" alt=\"\" class=\"wp-image-15020\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-58.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-58-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"sg\"><a id=\"post-15015-_q3z2pzaup3mw\"><\/a><img decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-59.png\" class=\"wp-image-15021\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-59.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-59-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">Rex International Holdings Ltd. (REXI SP)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/YGuqkjieQhKnFdhahq-aOx2NUKf8CRifCMReN0YBdj71WMW1M1uEAl2gDBc1q4V2CJFOt6QVZRbEn_tGZTVVtXLw4djG9bNRXnX09lng1OPVJgq-cl9mko074rgj-GmcHq1uioweG9AJubESJthPwg4\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed higher above the 200dEMA with constructive volume. 5dEMA is about to cross the 200dEMA.<\/li><li>MACD is about to turn positive, RSI is constructive.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 0.184, Target 0.194, Stop 0.179<\/strong><\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/dtxnznzja2GTWlJbju6lb1ngA2v-H4xyav8Tpcu1fWHR5Dzb7o56Um8CpSo95q0ZkoPE6AL7w1G0iBiVwHHjbQtKx_ZEySegQ7GUjh-HsFXaUhyFsIYdXauE7ObpltpgCtdyrpsSpTyU4hx3OcmCwbo\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Silverlake Axis Ltd (SILV SP)<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/jMz66ehXHg-AMYdMJPVntQ3DrhbAxXKLaxzMrE3yum_RxvludrUCLIeGZBFIxzgQn-KltZaTKRHtrJ2lhd0pdmFVDKGFjrfmAak4eHs308LJ1CZ3kgwHmWLNKRf0Fzy6KlijN_-LFlFpurUCh6TWHFY\" width=\"602\" height=\"349\"><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed higher above the 50dEMA. 5dEMA just crossed the 50dEMA.<\/li><li>MACD is positive, RSI is constructive.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 0.275 Target 0.295 Stop 0.265<\/strong><\/li><\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\">Back To Top<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/yV_Xnu_hXUOGMgZDR8Bt-KVJqh7F0hJW67ub5pqQ3zcYS3XS4f2hy3ieQic3A_uEgVAduKTFu3L0lxFLm2-v2rI4ui56z4HbM8DS8t6VI6KKsr92Io5JE1U9Fxf_hfQ4QEr69osTUO3uDrylwKUsLlg\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"hk\"><img loading=\"lazy\" decoding=\"async\" width=\"602\" height=\"128\" src=\"https:\/\/lh4.googleusercontent.com\/QMpvGCOCydiwQnXNAjEsreDHLysxjGGNj75eC5JRp1gQ5i4VgteJRMvCxBKXwZvPaiUG9gwfb7DQYrPe26Df9OTwKahXnQx1Kz4HWWXzhPQghxWg1UVJx-Y5bWLmbRUDMi79wyo5FadyUulHBrGvA9M\"><\/h3>\n\n\n\n<h3 class=\"wp-block-heading\">China Citic Bank Corp Ltd (998HK)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/MJPCQoKvEZIPwiZgXzQZSFsk__UtuBFqhthI9-T9RlkIVnTh89u52ESy9UPGvNyzddwzO2JfclCvWc2d9Z_J49N41-y3cwVr4TFZrFbZs2RKMeTyh9hgjaIvpNDb-et8pHDIgj4vb8hk6mf6uWUgFuA\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed above the 5dEMA with an increase in volume. The 20dEMA is about to cross the 50dEMA.\u00a0\u00a0<\/li><li>Both RSI and MACD are constructive.<\/li><li><strong>Long \u2013 Entry 3.68, Target 3.88, Stop 3.58<\/strong><\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/XE0RTfPNmqYIk5b1qWAxGOSBotNChYM4MYMFE9znLABm-0j2ITy8MAj1QsusAhQf0Oev6UNVPhY1kyf0dcMPYT-lMDtzhtRP5-qgGTYTTYTD8ku7KyDIdZg787TWTNPk2bJYDIQMWFE3C9DK0H0W7Y8\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">CLP Holdings Ltd (2 HK)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/BxJTvZUrLZmqnDxeEJ6vdoZnPH-hR_EXPFML1M56hTxNrGcbZjBlGz0I6WZQMBgmUCGfAtc6Hy1TF0JQjpaY3zdRkUHti7T4KcifY5cptTdkuQjJ-xipFrst9DtUmVPJp9ZDK5ez7HEjWECPA3uvAJc\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed above the 20dEMA with rising volume. The 5dEMA is about to cross the 20dEMA.<\/li><li>RSI is constructive and MACD is positive.<\/li><li><strong>Long \u2013 Entry 58.0, Target 61.0, Stop 56.5<\/strong><\/li><\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\">Back To Top<\/a> <\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/0lbu87C7Z1xDluPkJ4a_3PnUvgVbgBLRFqgJnJTT2i_3ZloXjWEjv3X1Gaf_6L-IEeo9eU2b_Q8eX5V08EwDl2iDePpPYrkgUSciNzAHbretE9sS6mf_-hmNhBIKuUTu5CQCFv1j7ahqxsl3HO05ycM\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\" id=\"ea\"><strong><img loading=\"lazy\" decoding=\"async\" width=\"601\" height=\"108\" src=\"https:\/\/lh4.googleusercontent.com\/Z0_IBt6WlF0wm5dAEE4psh4I_6pSghTaGP0Y_ZZAwegn7jopZCKQyTfuD0oEsUDDUKowD7fa1Ea2Qwx45kOknTimYAqpfRYuOw5fGhED3KM1EwZbJNUHzjY0ROwYmgHdMm0McVEGRZJCbcb5UDLi3jc\"><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>ASML Holding N.V. (ASML)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>3Q23 Revenue: <\/strong>$7.03 billion, +15.5% YoY, miss estimates by $92.4M<\/li><li><strong>3Q23 GAAP EPS:<\/strong> $5.07, beat estimates by $0.19<\/li><li><strong>4Q23 Guidance:<\/strong> ASML expects Q4 2023 net sales between \u20ac6.7 billion and \u20ac7.1 billion, gross margin between 50% and 51% and expects R&D costs of around \u20ac1,030 million and SG&A costs of around \u20ac285 million. ASML confirms its expectation to grow net sales towards 30% in 2023.\u00a0<\/li><li><strong>Comment: <\/strong>ASML bookings for the quarter dropped 42% amid a continued slump in chip sector, as demand for products like smartphones and laptops remains weak. The company is also impacted by the chip curbs between U.S. and China. ASML, being headquartered in the Netherlands, faced exports restrictions on advanced semiconductor equipments in the country itself, as well in U.S. to China. With the U.S. China trade war likely to continue, ASML is likely to see restrictions towards the demand for semiconductors, alongside a lower demand as the global smartphone market continue to see a decline. <strong>4Q23 recommended trading range<\/strong><strong>: $550 to $650. Neutral Outlook.\u00a0\u00a0<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u963f\u65af\u9ea6 (ASML)\u00a0<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63\u8425\u6536\uff1a<\/strong>70.3\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e4515.5%\uff0c\u900a\u9884\u671f9,240\u4e07\u7f8e\u5143<\/li><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a5.07\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.19\u7f8e\u5143\u00a0\u00a0<\/li><li><strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u6307\u5f15\uff1a<\/strong>\u516c\u53f8\u9884\u8ba12023\u5e74\u7b2c\u56db\u5b63\u5ea6\u51c0\u9500\u552e\u989d\u572867\u4ebf\u6b27\u5143\u81f371\u4ebf\u6b27\u5143\u4e4b\u95f4\uff0c\u6bdb\u5229\u7387\u572850%\u81f351%\u4e4b\u95f4\uff0c\u7814\u53d1\u6210\u672c\u7ea6\u4e3a10.3\u4ebf\u6b27\u5143\uff0c\u9500\u552e\u53ca\u884c\u653f\u8d39\u7528\u6210\u672c\u7ea6\u4e3a2.85\u4ebf\u6b27\u5143\u3002\u516c\u53f8\u786e\u8ba4\u5176\u9884\u8ba1\u52302023\u5e74\u51c0\u9500\u552e\u989d\u5c06\u589e\u957f30%\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u7531\u4e8e\u667a\u80fd\u624b\u673a\u548c\u7b14\u8bb0\u672c\u7535\u8111\u7b49\u4ea7\u54c1\u7684\u9700\u6c42\u4f9d\u7136\u75b2\u8f6f\uff0c\u82af\u7247\u884c\u4e1a\u6301\u7eed\u4f4e\u8ff7\uff0c\u516c\u53f8\u672c\u5b63\u5ea6\u7684\u9884\u8ba2\u91cf\u4e0b\u964d\u4e8642%\u3002\u8be5\u516c\u53f8\u8fd8\u53d7\u5230\u7f8e\u56fd\u548c\u4e2d\u56fd\u4e4b\u95f4\u82af\u7247\u9650\u5236\u7684\u5f71\u54cd\u3002\u603b\u90e8\u8bbe\u5728\u8377\u5170\u7684\u963f\u65af\u9ea6\u9762\u4e34\u7740\u8377\u5170\u548c\u7f8e\u56fd\u5bf9\u4e2d\u56fd\u51fa\u53e3\u5148\u8fdb\u534a\u5bfc\u4f53\u8bbe\u5907\u7684\u9650\u5236\u3002\u968f\u7740\u7f8e\u4e2d\u8d38\u6613\u6218\u7684\u6301\u7eed\uff0c\u968f\u7740\u5168\u7403\u667a\u80fd\u624b\u673a\u5e02\u573a\u7684\u6301\u7eed\u4e0b\u6ed1\uff0c\u516c\u53f8\u7684\u534a\u5bfc\u4f53\u9700\u6c42\u53ef\u80fd\u4f1a\u53d7\u5230\u9650\u5236\uff0c\u9700\u6c42\u4e5f\u4f1a\u4e0b\u964d\u3002<strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a550\u7f8e\u5143\u81f3650\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Procter & Gamble Co. (PG)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>1Q24 Revenue: <\/strong>$21.87B, +6.1% YoY, beating estimates by $290M<\/li><li><strong>1Q24 Non-GAAP EPS:<\/strong> $1.83, beat estimates by $0.11<\/li><li><strong>FY24 Guidance:<\/strong> All-in sales growth to be in the range of two to four percent versus the prior year; diluted net earnings per share growth in the range of 6%-9% versus fiscal 2023 EPS of $5.90; effective tax rate of approximately 21%; Capital spending is now estimated to be approximately 4.5% of net sales; Adjusted free cash flow productivity of 90% and expects to pay more than $9bn in dividends and to repurchase $5bn to $6bn of common shares in fiscal 2024.<\/li><li><strong>Comment: <\/strong>The company reported a strong set of results, but saw a decline in volume of the 6th consecutive quarter. The decline in volume was due to higher prices for the company\u2019s products, which led to some consumers opting for other private-label alternatives. However, the company indicated that its volume declines have been narrowing in the recent quarters, and the company still expects to report a volume growth for the fiscal year. Consumers\u2019 confidence has dipped slightly in October 2023 as interest rates remain high, where more consumers would look for value products than compared to pricier products, which may poise more headwinds for the company. <strong>2Q24 recommended trading range<\/strong><strong>: $145 to $155. Neutral Outlook.\u00a0<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u4fdd\u6d01 (PG)\u00a0<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>24\u8d22\u5e74\u7b2c\u4e00\u5b63\u8425\u6536\uff1a<\/strong>218.7\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e456.1%\uff0c\u8d85\u9884\u671f2.9\u4ebf\u7f8e\u5143<\/li><li><strong>24\u8d22\u5e74\u7b2c\u4e00\u5b63Non-GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a1.83\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.11\u7f8e\u5143\u00a0\u00a0<\/li><li><strong>24\u8d22\u5e74\u6307\u5f15\uff1a<\/strong>\u4e0e\u53bb\u5e74\u540c\u671f\u76f8\u6bd4\uff0c\u603b\u9500\u552e\u989d\u589e\u957f\u5e45\u5ea6\u57282%\u81f34%\u4e4b\u95f4\uff1b\u644a\u8584\u6bcf\u80a1\u51c0\u6536\u76ca\u589e\u957f6%\u81f39%\u7684\u8303\u56f4\uff0c\u800c2023\u8d22\u5e74\u6bcf\u80a1\u6536\u76ca\u4e3a5.90\u7f8e\u5143\uff1b\u6709\u6548\u7a0e\u7387\u7ea621%\uff1b\u8d44\u672c\u652f\u51fa\u73b0\u5728\u4f30\u8ba1\u5927\u7ea64.5%\u7684\u51c0\u9500\u552e\u989d\uff1b\u8c03\u6574\u540e\u7684\u81ea\u7531\u73b0\u91d1\u6d41\u751f\u4ea7\u7387\u4e3a90%\uff0c\u9884\u8ba1\u57282024\u8d22\u5e74\u652f\u4ed8\u8d85\u8fc790\u4ebf\u7f8e\u5143\u7684\u80a1\u606f\uff0c\u5e76\u56de\u8d2d50\u81f360\u4ebf\u7f8e\u5143\u7684\u666e\u901a\u80a1\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u8be5\u516c\u53f8\u516c\u5e03\u4e86\u4e00\u7cfb\u5217\u5f3a\u52b2\u7684\u4e1a\u7ee9\uff0c\u4f46\u9500\u91cf\u8fde\u7eed\u7b2c\u516d\u4e2a\u5b63\u5ea6\u4e0b\u964d\u3002\u9500\u91cf\u4e0b\u964d\u7684\u539f\u56e0\u662f\u8be5\u516c\u53f8\u4ea7\u54c1\u4ef7\u683c\u4e0a\u6da8\uff0c\u5bfc\u81f4\u4e00\u4e9b\u6d88\u8d39\u8005\u9009\u62e9\u5176\u4ed6\u81ea\u6709\u54c1\u724c\u7684\u66ff\u4ee3\u54c1\u3002\u7136\u800c\uff0c\u8be5\u516c\u53f8\u8868\u793a\uff0c\u6700\u8fd1\u51e0\u4e2a\u5b63\u5ea6\uff0c\u5176\u9500\u91cf\u4e0b\u964d\u5e45\u5ea6\u4e00\u76f4\u5728\u6536\u7a84\uff0c\u8be5\u516c\u53f8\u4ecd\u6709\u671b\u5728\u672c\u8d22\u5e74\u5b9e\u73b0\u9500\u91cf\u589e\u957f\u3002\u7531\u4e8e\u5229\u7387\u5c45\u9ad8\u4e0d\u4e0b\uff0c\u6d88\u8d39\u8005\u4fe1\u5fc3\u57282023\u5e7410\u6708\u7565\u6709\u4e0b\u964d\uff0c\u4e0e\u6602\u8d35\u7684\u4ea7\u54c1\u76f8\u6bd4\uff0c\u66f4\u591a\u7684\u6d88\u8d39\u8005\u4f1a\u5bfb\u627e\u6709\u6027\u4ef7\u6bd4\u7684\u4ea7\u54c1\uff0c\u8fd9\u53ef\u80fd\u4f1a\u7ed9\u516c\u53f8\u5e26\u6765\u66f4\u591a\u7684\u4e0d\u5229\u56e0\u7d20\u3002<strong>24\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a145\u7f8e\u5143\u81f3155\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Morgan Stanley (MS)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>3Q23 Revenue: <\/strong>$13.27B, +2.2% YoY, beating estimates by $50M<\/li><li><strong>3Q23 GAAP EPS:<\/strong> $1.38, beats estimates by $0.09<\/li><li><strong>FY23 Guidance:<\/strong> based on where MS exited the quarter, it expects NII to trend lower. The magnitude will be a function of its deposit mix and the trajectory of rates.<\/li><li><strong>Comment: <\/strong>Morgan Stanley reported a drop in profits for the quarter, as well as a slower growth for its largest business, wealth management business, as compensation costs in the division rose. The company also wanted that net interest income will fall again in the next quarter, following its decline of 9% in the current quarter. Management currently sees a \u201cmixed\u201d environment for the company\u2019s businesses and acknowledge that the firm\u2019s wealth management division gathered fewer new assets in recent quarters due to high interest rates making money market funds and treasuries attractive. However, he also highlighted that the wealth management business was still on trach to hit the company\u2019s 3 years goal of generating $1tn in new assets. <strong>4Q23 recommended trading range<\/strong><strong>: $65 to $80. Negative Outlook.\u00a0<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u6469\u6839\u65af\u5766\u5229 (MS)\u00a0<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63\u8425\u6536\uff1a<\/strong>132.7\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e452.2%\uff0c\u8d85\u9884\u671f5,000\u4e07\u7f8e\u5143<\/li><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a1.38\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.09\u7f8e\u5143\u00a0\u00a0<\/li><li><strong>23\u8d22\u5e74\u6307\u5f15\uff1a<\/strong>\u6839\u636e\u8be5\u884c\u672c\u5b63\u5ea6\u7ed3\u675f\u65f6\u7684\u8868\u73b0\uff0c\u8be5\u516c\u53f8\u9884\u8ba1\u51c0\u5229\u606f\u6536\u5165\u5c06\u5448\u4e0b\u964d\u8d8b\u52bf\u3002\u5176\u5e45\u5ea6\u5c06\u53d6\u51b3\u4e8e\u5176\u5b58\u6b3e\u7ec4\u5408\u548c\u5229\u7387\u8f68\u8ff9\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u6469\u6839\u58eb\u4e39\u5229\u516c\u5e03\u8be5\u5b63\u5ea6\u5229\u6da6\u4e0b\u964d\uff0c\u5176\u6700\u5927\u4e1a\u52a1\u8d22\u5bcc\u7ba1\u7406\u4e1a\u52a1\u589e\u957f\u653e\u7f13\uff0c\u539f\u56e0\u662f\u8be5\u90e8\u95e8\u7684\u85aa\u916c\u6210\u672c\u4e0a\u5347\u3002\u8be5\u516c\u53f8\u8fd8\u9884\u671f\uff0c\u7ee7\u672c\u5b63\u5ea6\u4e0b\u964d9%\u4e4b\u540e\uff0c\u4e0b\u4e00\u5b63\u5ea6\u7684\u51c0\u5229\u606f\u6536\u5165\u5c06\u518d\u6b21\u4e0b\u964d\u3002\u7ba1\u7406\u5c42\u76ee\u524d\u8ba4\u4e3a\u516c\u53f8\u4e1a\u52a1\u9762\u4e34\u201d\u597d\u574f\u53c2\u534a\u201d\u7684\u73af\u5883\uff0c\u5e76\u627f\u8ba4\u516c\u53f8\u8d22\u5bcc\u7ba1\u7406\u90e8\u95e8\u8fd1\u51e0\u4e2a\u5b63\u5ea6\u65b0\u589e\u8d44\u4ea7\u51cf\u5c11\uff0c\u56e0\u9ad8\u5229\u7387\u4ee4\u8d27\u5e01\u5e02\u573a\u57fa\u91d1\u548c\u516c\u503a\u66f4\u5177\u5438\u5f15\u529b\u3002\u4e0d\u8fc7\uff0c\u4ed6\u4e5f\u5f3a\u8c03\uff0c\u8d22\u5bcc\u7ba1\u7406\u4e1a\u52a1\u4ecd\u6709\u671b\u5b9e\u73b0\u516c\u53f8\u76843\u5e74\u76ee\u6807\uff0c\u5373\u521b\u90201\u4e07\u4ebf\u7f8e\u5143\u7684\u65b0\u8d44\u4ea7\u3002<strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a65\u7f8e\u5143\u81f380\u7f8e\u5143\u3002\u8d1f\u9762\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Tesla Inc. (TSLA)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>3Q23 Revenue: <\/strong>$23.35B, +8.9% YoY, missing estimates by $790M<\/li><li><strong>3Q23 Non-GAAP EPS:<\/strong> $0.66, miss estimates by $0.07<\/li><li><strong>FY23 Guidance:<\/strong> expect deliveries of 1.8M vehicles.<\/li><li><strong>Comment: <\/strong>The company profits fell short of expectations in the latest quarter, impacted by planned factory closures and price cuts, narrowing the company\u2019s gross margin, which dropped to 16.3%, its lowest level since the last quarter of 2017. Management issued a downbeat outlook, highlighting that the high interest rates environment would continue to limit the affordability of Tesla\u2019s vehicles. The launch of the Cybertruck next month, is also expected to face more headwinds and production ramp-up would take at least 18 months.Management also mentioned that the Cybertruck would also require immense work to reach volume production and be cashflow positive at a price that people can afford. <strong>4Q23 recommended trading range<\/strong><strong>: $200 to $270. Neutral Outlook.\u00a0<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7279\u65af\u62c9 (TSLA)\u00a0<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63\u8425\u6536\uff1a<\/strong>233.5\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e458.9%\uff0c\u8d85\u9884\u671f7.9\u4ebf\u7f8e\u5143<\/li><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63Non-GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a0.66\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.07\u7f8e\u5143\u00a0\u00a0<\/li><li><strong>23\u8d22\u5e74\u6307\u5f15\uff1a<\/strong>\u9884\u671f\u4ea4\u4ed8180\u8f86\u8f66<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u53d7\u8ba1\u5212\u4e2d\u7684\u5de5\u5382\u5173\u95ed\u548c\u964d\u4ef7\u7684\u5f71\u54cd\uff0c\u8be5\u516c\u53f8\u6700\u8fd1\u4e00\u4e2a\u5b63\u5ea6\u7684\u5229\u6da6\u4f4e\u4e8e\u9884\u671f\uff0c\u4f7f\u8be5\u516c\u53f8\u7684\u6bdb\u5229\u7387\u964d\u81f316.3%\uff0c\u4e3a2017\u5e74\u7b2c\u56db\u5b63\u5ea6\u4ee5\u6765\u7684\u6700\u4f4e\u6c34\u5e73\u3002\u7ba1\u7406\u5c42\u53d1\u8868\u4e86\u60b2\u89c2\u7684\u5c55\u671b\uff0c\u5f3a\u8c03\u9ad8\u5229\u7387\u73af\u5883\u5c06\u7ee7\u7eed\u9650\u5236\u7279\u65af\u62c9\u6c7d\u8f66\u7684\u53ef\u8d1f\u62c5\u6027\u3002\u4e0b\u4e2a\u6708\u63a8\u51fa\u7684\u8d5b\u535a\u5361\u8f66\u9884\u8ba1\u4e5f\u5c06\u9762\u4e34\u66f4\u591a\u963b\u529b\uff0c\u4ea7\u91cf\u589e\u52a0\u81f3\u5c11\u9700\u898118\u4e2a\u6708\u3002\u7ba1\u7406\u5c42\u8fd8\u63d0\u5230\uff0c\u8d5b\u535a\u5361\u8f66\u8fd8\u9700\u8981\u5927\u91cf\u7684\u5de5\u4f5c\u624d\u80fd\u8fbe\u5230\u91cf\u4ea7\uff0c\u5e76\u4ee5\u4eba\u4eec\u53ef\u4ee5\u627f\u53d7\u7684\u4ef7\u683c\u5b9e\u73b0\u6b63\u73b0\u91d1\u6d41\u3002<strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a200\u7f8e\u5143\u81f3270\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Netflix Inc. (NFLX)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>3Q23 Revenue: <\/strong>$8.54B, +7.7% YoY, in-line with estimates<\/li><li><strong>3Q23 GAAP EPS:<\/strong> $3.73, beat estimates by $0.23<\/li><li><strong>4Q23 Guidance: <\/strong>Revenue of $8.69B vs. $8.54B consensus, EPS of $2.15 vs. $2.20 consensus.<\/li><li><strong>Comment: <\/strong>The company reported a strong set of results for the quarter, adding 8.8mn new subscribers in the quarter, beating expectations of 6.2mn. This was largely attributed to the roll out of paid sharing, strong, steady programming and the ongoing expansion of streaming globally. The company expects 4Q23 subscribers net additions to be similar to the additions in 3Q23. Alongside the addition of more subscribers, the company also announced that they will be raising prices in the US, UK, France, with its prior price increase back in March 2022. This increase in membership prices is expected to drive the average revenue per membership higher. <strong>4Q23 recommended trading range<\/strong><strong>: $380 to $450. Positive Outlook.\u00a0<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u5948\u98de (NFLX)\u00a0<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63\u8425\u6536\uff1a<\/strong>85.4\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e457.7%\uff0c\u7b26\u5408\u9884\u671f<\/li><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63Non-GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a3.73\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.23\u7f8e\u5143\u00a0\u00a0<\/li><li><strong>23\u8d22\u5e74\u6307\u5f15\uff1a<\/strong>\u8425\u653686.9\u4ebf\u7f8e\u5143\uff0c\u9884\u671f\u4e3a85.4\u4ebf\u7f8e\u5143\uff1b\u6bcf\u80a1\u6536\u76ca2.15\u7f8e\u5143\uff0c\u9884\u671f\u4e3a2.20\u7f8e\u5143\u3002<\/li><li><strong>\u80a1\u606f\uff1a<\/strong>\u516c\u53f8\u5ba3\u5e03\u5b63\u5ea6\u73b0\u91d1\u80a1\u606f\u4e3a\u6bcf\u80a10.10\u7f8e\u5143\u3002\u8fd9\u80a1\u606f\u5c06\u4e8e2023\u5e7412\u670814\u65e5\u652f\u4ed8\u7ed9\u622a\u81f32023\u5e7412\u67081\u65e5\u7684\u80a1\u4e1c\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u8be5\u516c\u53f8\u516c\u5e03\u4e86\u4e00\u7ec4\u5f3a\u52b2\u7684\u5b63\u5ea6\u4e1a\u7ee9\uff0c\u5728\u8be5\u5b63\u5ea6\u589e\u52a0\u4e86880\u4e07\u65b0\u7528\u6237\uff0c\u8d85\u8fc7\u4e86620\u4e07\u7684\u9884\u671f\u3002\u8fd9\u5728\u5f88\u5927\u7a0b\u5ea6\u4e0a\u8981\u5f52\u529f\u4e8e\u4ed8\u8d39\u5171\u4eab\u7684\u63a8\u51fa\u3001\u5f3a\u52b2\u3001\u7a33\u5b9a\u7684\u8282\u76ee\u5236\u4f5c\u4ee5\u53ca\u6d41\u5a92\u4f53\u5728\u5168\u7403\u7684\u6301\u7eed\u6269\u5f20\u3002\u8be5\u516c\u53f8\u9884\u8ba1\uff0c\u7b2c4\u5b63\u5ea6\u7528\u6237\u51c0\u589e\u957f\u5c06\u4e0e\u7b2c3\u5b63\u5ea6\u76f8\u4f3c\u3002\u9664\u4e86\u589e\u52a0\u66f4\u591a\u7684\u7528\u6237\u5916\uff0c\u8be5\u516c\u53f8\u8fd8\u5ba3\u5e03\uff0c\u4ed6\u4eec\u5c06\u63d0\u9ad8\u7f8e\u56fd\u3001\u82f1\u56fd\u548c\u6cd5\u56fd\u7684\u4ef7\u683c\uff0c\u4e0a\u4e00\u6b21\u6da8\u4ef7\u662f\u57282022\u5e743\u6708\u3002\u4f1a\u5458\u4ef7\u683c\u7684\u4e0a\u6da8\u9884\u8ba1\u5c06\u63a8\u9ad8\u6bcf\u4f4d\u4f1a\u5458\u7684\u5e73\u5747\u6536\u5165\u3002<strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a380\u7f8e\u5143\u81f3450\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Lam Research Corp. (LRCX)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>1Q24 Revenue: <\/strong>$3.48B, -31.4% YoY, beat estimates by $60M<\/li><li><strong>1Q24 Non-GAAP EPS:<\/strong> $6.85, beat estimates by $0.72<\/li><li><strong>2Q24 Guidance:<\/strong> Revenue $3.7 Billion; Gross margin as a percentage of revenue 47%; Operating income as a percentage of revenue 29.5%; EPS $7.00.<\/li><li><strong>Comment: <\/strong>Lam Research delivered a strong set of results despite it being a cyclically soft year for wafer fabrication equipment spending. Management highlights that there are tremendous growth vectors ahead for the company, and they are investing strategically to drive long-term performance. However, with several curbs made to the exports of semiconductor world wide, especially between China and United States, which may affect the topline demand for semiconductors. A lower demand for semiconductors due to the decline of the global smartphone market would pose more headwinds for the company as well. <strong>4Q23 recommended trading range<\/strong><strong>: $570 to $665. Neutral Outlook.\u00a0<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u62c9\u59c6\u7814\u7a76 (LRCX)\u00a0<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>24\u8d22\u5e74\u7b2c\u4e00\u5b63\u8425\u6536\uff1a<\/strong>34.8\u4ebf\u7f8e\u5143, \u540c\u6bd4\u8dcc\u5e4531.4%\uff0c\u8d85\u9884\u671f6,000\u4e07\u7f8e\u5143<\/li><li><strong>24\u8d22\u5e74\u7b2c\u4e00\u5b63Non-GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a6.85\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.72\u7f8e\u5143\u00a0\u00a0<\/li><li><strong>24\u8d22\u5e74\u7b2c\u4e8c\u5b63\u6307\u5f15\uff1a<\/strong>\u6536\u516537\u4ebf\u7f8e\u5143\uff1b\u6bdb\u5229\u7387\u5360\u6536\u5165\u7684\u6bd4\u4f8b\u4e3a47%\uff1b\u8425\u4e1a\u6536\u5165\u5360\u8425\u4e1a\u6536\u5165\u7684\u6bd4\u4f8b\u4e3a29.5%\uff1b\u6bcf\u80a1\u6536\u76ca7.00\u7f8e\u5143\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u5c3d\u7ba1\u4eca\u5e74\u662f\u6676\u5706\u5236\u9020\u8bbe\u5907\u652f\u51fa\u5468\u671f\u6027\u75b2\u8f6f\u7684\u4e00\u5e74\uff0c\u4f46\u516c\u53f8\u4ecd\u53d6\u5f97\u4e86\u5f3a\u52b2\u7684\u4e1a\u7ee9\u3002\u7ba1\u7406\u5c42\u5f3a\u8c03\uff0c\u516c\u53f8\u672a\u6765\u6709\u5de8\u5927\u7684\u589e\u957f\u7a7a\u95f4\uff0c\u4ed6\u4eec\u6b63\u5728\u8fdb\u884c\u6218\u7565\u6027\u6295\u8d44\uff0c\u4ee5\u63a8\u52a8\u957f\u671f\u4e1a\u7ee9\u3002\u7136\u800c\uff0c\u968f\u7740\u5168\u7403\u534a\u5bfc\u4f53\u51fa\u53e3\u7684\u51e0\u9879\u9650\u5236\uff0c\u7279\u522b\u662f\u4e2d\u56fd\u548c\u7f8e\u56fd\u4e4b\u95f4\u7684\u9650\u5236\uff0c\u8fd9\u53ef\u80fd\u4f1a\u5f71\u54cd\u534a\u5bfc\u4f53\u7684\u6700\u9ad8\u9700\u6c42\u3002\u7531\u4e8e\u5168\u7403\u667a\u80fd\u624b\u673a\u5e02\u573a\u7684\u840e\u7f29\uff0c\u534a\u5bfc\u4f53\u9700\u6c42\u7684\u51cf\u5c11\u4e5f\u4f1a\u7ed9\u4e09\u661f\u7535\u5b50\u5e26\u6765\u66f4\u591a\u7684\u4e0d\u5229\u56e0\u7d20\u3002<strong>24\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a570\u7f8e\u5143\u81f3665\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"has-text-align-right wp-block-paragraph\"><a href=\"#top\">Back To Top<\/a> <\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/t.me\/kgisg\"><img loading=\"lazy\" decoding=\"async\" width=\"637\" height=\"135\" src=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69.png\" alt=\"\" class=\"wp-image-15031\" srcset=\"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69.png 637w, https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2022\/05\/word-image-69-300x64.png 300w\" sizes=\"(max-width: 637px) 100vw, 637px\" \/><\/a><\/figure>\n\n\n","protected":false},"excerpt":{"rendered":"<p>United States | Singapore | Hong Kong | Earnings Valero Energy Corp. (VLO US) Shares closed higher above the 50dEMA with constructive volume. 5dEMA is about to cross the 20dEMA and 50dEMA. MACDis about to turn positive, RSI is constructive. Long \u2013 Entry 132, Target 142, Stop 127 Marathon Petroleum Corp. (MPC US) Shares closed [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_eb_attr":"","_uag_custom_page_level_css":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-34420","post","type-post","status-publish","format-standard","hentry","category-technical-analysis"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.8 - aioseo.com -->\n\t<meta name=\"description\" content=\"United States | Singapore | Hong Kong | Earnings Shares closed higher above the 50dEMA with constructive volume. 5dEMA is about to cross the 20dEMA and 50dEMA. MACDis about to turn positive, RSI is constructive. 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