{"id":35500,"date":"2023-11-17T07:07:00","date_gmt":"2023-11-16T23:07:00","guid":{"rendered":"https:\/\/www.kgieworld.sg\/research\/?p=35500"},"modified":"2023-11-17T14:19:24","modified_gmt":"2023-11-17T06:19:24","slug":"technical-analysis-17-november-2023","status":"publish","type":"post","link":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-17-november-2023\/","title":{"rendered":"Technical Analysis &#8211; 17 November 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\">McDonalds Corp. (MCD US)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/5QBFFU1d3NEq1AOc4v0Zjsz8aEVD5IorXZu2ThuvuvKmlwirDRLv9fCOSOnm4I3xk7QpIItTmwb9HlYojL7T0XT1rqeGfHaykwNOCY9nWc0LGuk9YxeRff1Cn3ZivDbnjjtlB2zFYJ6W0yeJVVuPChc\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed higher above the 200dEMA with a surge in volume. 5dEMA is about to cross the 200dEMA, and 20dEMA is about to cross the 50dEMA.<\/li><li>MACD is positive and RSI is at an \u201coverbought\u201d level.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 274, Target 290, Stop 266<\/strong><\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/K0CwFHDCBF3ueSFbsPjYBNHH-vVtjIWOqtuioo3KcfYvewHcasp0LED_oOU-1O99sduvZoJR-uOjGGE1emeCILVjyTHVNJKyblNzKbqGS2r93eWe_016EfKIv6DAYU-JBRNGKs755yaX224jQF59zyc\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Restaurant Brands International Inc. (QSR US)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/-GgYocJ036iAURJamY3V9HCSsaUiZG_6CC_MqgyGRw_tF1VYo62nZNQDN_hVURMYF7OTWKnhnBEIfj7GhPLh_fgkbXJ9Q4htdYh_Uu72qoriR3A8t_NnFp7ifRYildueNbU7hIC7OJcUvOpGxWj7Wlk\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed higher above the 5dEMA. 20dEMA just crossed the 50dEMA and is about to cross the 200dEMA.<\/li><li>MACD is positive and RSI is constructive.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 70.5, Target 74.5, Stop 68.5<\/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\" 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\">Best World International Ltd. (BEST SP)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/sFEyxEclB4-S2iA5f4x-CoU-HOvsd2w0Vc4o8Y3S5EfmpBpMSkIqFJvIPW2C3Qkd7ESukedR0NwgZskVzwswaGNOjUiFyvvgkF5T44aX87TB4NZiNsgak9fm_pbUUtAIUcFBK7-HOfwgIt8pKKP_ktY\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed higher above the 50dEMA with constructive volume. The 5dEMA just crossed the 20dEMA.<\/li><li>Both MACD and RSI are constructive.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 1.70, Target 1.80, Stop 1.65<\/strong><\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/CHB4skn2OylvO2EzJl38OcnEMEb6WE9T9gWAFyUcgBrHd-rcQEp9SKZ0M5aa3Zhi7qcTcnujHAYsZfy8cIM-K47N8h_7JskOzsarbi-KTlsmmRMirtVZlrORRWpX6SlBwnjp_x6UcwfGBQE2WxnsG9Q\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Starhub Ltd. (STH SP)<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/Al5z9cOdQ_uJBVganvT3CoKnR_NE8KJrKAiZxdIIoAUx-hqhHPc5N8k3SGJGRr8iPkqmTn2-xxBF64bCdJxtKL6Q8I5KSVrpwa08pLEn3aCAO3GLLS84d72ZAbK2rWCiFF2L52oTpmgponLRJY_Wi6I\" width=\"602\" height=\"332\"><\/h3>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed above the 5dEMA with constructive volume. 20dEMA just crossed the 20dEMA and 50dEMA.<\/li><li>Both RSI and MACD are constructive.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 1.07, Target 1.13, Stop 1.04<\/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\">CGN Power Co Ltd (1816 HK)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/D5ZnXrAQVuxpMEGN-1hQiWFBDidYDL-hvNEyF7yUtgAuY2CVdVOeeqqpGfJkOdqKF4jBS1jkBFzNJwmzRjJ9plmmR9bWxt5EwLyQvyMFGi1Z7MGW1DMQvJvs7f1KfgByumrQoRwTfuHE_fKvfm2zcq8\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed above the 20dEMA.<\/li><li>RSI is constructive and MACD is positive.<\/li><li><strong>Long <\/strong>\u2013 <strong>Entry 1.90, Target 2.00, Stop 1.85<\/strong><\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/9nWGTqxf7x6K5oQL-4MPDwDqX9qKfSoF8TshmWHyHd9GjQMAACDV4RI3bma9E6mgb4PotDTWifyTEzEezGtSzNqnhJ4dlYtBvS3VFSBQ1TFG1DK9RBmmv9cGEmlc04DPiyxpqrGuQR2PX1gMPm66DmU\" alt=\"\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Yankuang Energy Group Co Ltd (1171 HK)<\/h3>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/Z-gFSQKjlRQP5zWdvttGUB22HZab7rhAR2_xn2DRGz93uOOANwW9CeJ6kND6ww_8Mka-layltKnNhuzIj2BtBYDe9Up_XiLvGikVE_nqpxhGA-8LDxdJxMEsvlCtfy8gQ4irmR9fOj-o3jR4W14aXjY\" alt=\"\"\/><\/figure>\n\n\n\n<ul class=\"wp-block-list\"><li>Shares closed above the 50dEMA. The 5dEMA crossed both the 20dEMA and 50dEMA.&nbsp;<\/li><li>Both RSI and MACD are constructive.<\/li><li><strong>Long \u2013 Entry 13.86, Target 15.14, Stop 13.22<\/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>Alibaba Group Holding Ltd. (BABA)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>2Q24 Revenue: <\/strong>$30.81B, +9.0% YoY, miss estimates by $230M<\/li><li><strong>2Q24 Non-GAAP EPADS:<\/strong> $2.14, beat estimates by $0.05<\/li><li><strong>3Q24 Guidance:<\/strong> No guidance provided. The short-term business focus will be rapid expansions of its business scale and market share.<\/li><li><strong>Share repurchase and dividend:<\/strong> In addition to its $40bn share repurchase program, its board of directors has approved an annual dividend for fiscal year 2023 in the amount of $0.125 per ordinary share or $1 per ADS.&nbsp;<\/li><li><strong>Comment: <\/strong>The group announced that it will not be proceeding with the full spinoff of its cloud group due to U.S. chip export restrictions, highlighting that these restrictions have made it more challenging for Chinese firms to get critical chip supplies from U.S. companies. Investors were hoping that a spinoff of the group\u2019s cloud business would achieve a higher valuation due to its growth but was derailed by fresh U.S. export rules that also damaged the outlook for the business. Instead, the company will be focusing on developing a sustainable growth model for Cloud Intelligence Group under fluid circumstances. The company also postponed its plan to list its grocery business, Freshippo. <strong>3Q24 recommended trading range<\/strong><strong>: $70 to $85. Neutral Outlook.&nbsp;&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u963f\u91cc\u5df4\u5df4 (BABA)&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>24\u8d22\u5e74\u7b2c\u4e8c\u5b63\u8425\u6536\uff1a<\/strong>308.1\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e459.0%\uff0c\u900a\u9884\u671f2.3\u4ebf\u7f8e\u5143<\/li><li><strong>24\u8d22\u5e74\u7b2c\u4e8c\u5b63Non-GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a2.14\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.05\u7f8e\u5143&nbsp;<\/li><li><strong>24\u8d22\u5e74\u7b2c\u4e09\u5b63\u6307\u5f15\uff1a<\/strong>\u6ca1\u6709\u63d0\u4f9b\u6307\u5bfc\u3002\u77ed\u671f\u4e1a\u52a1\u91cd\u70b9\u5c06\u662f\u8fc5\u901f\u6269\u5927\u4e1a\u52a1\u89c4\u6a21\u548c\u5e02\u573a\u4efd\u989d\u3002<\/li><li><strong>\u80a1\u7968\u56de\u8d2d\u548c\u80a1\u606f\uff1a<\/strong>\u9664\u4e86400\u4ebf\u7f8e\u5143\u7684\u80a1\u7968\u56de\u8d2d\u8ba1\u5212\u5916\uff0c\u5176\u8463\u4e8b\u4f1a\u8fd8\u6279\u51c6\u4e862023\u8d22\u5e74\u7684\u5e74\u5ea6\u80a1\u606f\uff0c\u6bcf\u80a1\u666e\u901a\u80a10.125\u7f8e\u5143\u6216\u6bcf\u80a1\u7f8e\u56fd\u5b58\u6258\u51ed\u8bc11\u7f8e\u5143\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u8be5\u96c6\u56e2\u5ba3\u5e03\uff0c\u7531\u4e8e\u7f8e\u56fd\u7684\u82af\u7247\u51fa\u53e3\u9650\u5236\uff0c\u5b83\u5c06\u4e0d\u4f1a\u7ee7\u7eed\u5168\u9762\u5206\u62c6\u5176\u4e91\u4e1a\u52a1\uff0c\u5e76\u5f3a\u8c03\u8fd9\u4e9b\u9650\u5236\u4f7f\u4e2d\u56fd\u516c\u53f8\u66f4\u96be\u4ece\u7f8e\u56fd\u516c\u53f8\u83b7\u5f97\u5173\u952e\u82af\u7247\u4f9b\u5e94\u3002\u6295\u8d44\u8005\u539f\u672c\u5e0c\u671b\uff0c\u8be5\u96c6\u56e2\u4e91\u4e1a\u52a1\u7684\u5206\u62c6\u5c06\u56e0\u5176\u589e\u957f\u800c\u83b7\u5f97\u66f4\u9ad8\u7684\u4f30\u503c\uff0c\u4f46\u7531\u4e8e\u7f8e\u56fd\u65b0\u7684\u51fa\u53e3\u89c4\u5b9a\u4e5f\u635f\u5bb3\u4e86\u8be5\u4e1a\u52a1\u7684\u524d\u666f\uff0c\u8be5\u8ba1\u5212\u672a\u80fd\u5b9e\u73b0\u3002\u76f8\u53cd\uff0c\u8be5\u516c\u53f8\u5c06\u4e13\u6ce8\u4e8e\u5728\u53d8\u5316\u7684\u73af\u5883\u4e0b\u4e3a\u4e91\u667a\u80fd\u96c6\u56e2\u5f00\u53d1\u53ef\u6301\u7eed\u7684\u589e\u957f\u6a21\u5f0f\u3002\u8be5\u516c\u53f8\u8fd8\u63a8\u8fdf\u4e86\u5176\u98df\u54c1\u6742\u8d27\u4e1a\u52a1\u76d2\u9a6c\u9c9c\u751f\u7684\u4e0a\u5e02\u8ba1\u5212\u3002<strong>24\u8d22\u5e74\u7b2c\u4e09\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a70\u7f8e\u5143\u81f385\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Walmart Inc. (WMT)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>3Q23 Revenue: <\/strong>$160.8B, +5.2% YoY, beat estimates by $2.26B<\/li><li><strong>3Q23 Non-GAAP EPADS:<\/strong> $1.53, beat estimates by $0.01<\/li><li><strong>FY23 Guidance:<\/strong> Net sales of $605.9B, adjusted operating income at $24.6B, adjusted EPS of $6.29.<strong> FY24 guidance: <\/strong>Net sales growth of 5.0%-5.5% vs 5.61% consensus ($639.85B consensus); Adj EPS of $6.40 to $6.48 vs $6.50 consensus, including expected $0.03 headwind from current year LIFO charges, $0.04 benefit YoY<\/li><li><strong>Comment:<\/strong> The company reported a solid set of results and raised its FY23 guidance. However, the guidance was still below the market\u2019s and analysts\u2019 expectations. The company still see challenges in consumer spending, with consumer showing ongoing discretion and making trade-offs to be able to afford the things they want given macroeconomic uncertainties. The company saw a slowdown in spending in late October, but sales have rebounded in November. While the company remains conservative, we expect sales to continue increasing as the holiday season arrives. <strong>4Q23 recommended trading range<\/strong><strong>: $150 to $175. Positive Outlook.&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u6c83\u5c14\u739b (WMT)&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63\u8425\u6536\uff1a<\/strong>1,608\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e455.2%\uff0c\u8d85\u9884\u671f22.6\u4ebf\u7f8e\u5143<\/li><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63GAAP\u6bcf\u80a1\u4e8f\u635f<\/strong>\uff1a1.53\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.01\u7f8e\u5143&nbsp;&nbsp;<\/li><li><strong>23\u8d22\u5e74\u6307\u5f15\uff1a<\/strong>\u51c0\u9500\u552e\u989d\u4e3a6059\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u8425\u4e1a\u5229\u6da6\u4e3a246\u4ebf\u7f8e\u5143\uff0c\u8c03\u6574\u540e\u6bcf\u80a1\u6536\u76ca\u4e3a6.29\u7f8e\u5143\u3002<strong>24\u8d22\u5e74\u6307\u5f15\uff1a<\/strong>\u51c0\u9500\u552e\u989d\u589e\u957f5.0%-5.5%\uff0c\u5e02\u573a\u9884\u671f\u4e3a5.61%(6398.5\u4ebf\u7f8e\u5143);\u9884\u671f\u6bcf\u80a1\u6536\u76ca\u4e3a6.40\u7f8e\u5143\u81f36.48\u7f8e\u5143\uff0c\u800c\u5e02\u573a\u9884\u671f\u4e3a6.50\u7f8e\u5143\uff0c\u5176\u4e2d\u5305\u62ec\u4eca\u5e74\u540e\u8fdb\u5148\u51fa\u8d39\u7528\u9884\u8ba1\u4e3a0.03\u7f8e\u5143\u7684\u963b\u529b\uff0c\u540c\u6bd4\u6536\u76ca\u4e3a0.04\u7f8e\u5143<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u8be5\u516c\u53f8\u516c\u5e03\u4e86\u4e00\u7cfb\u5217\u5f3a\u52b2\u7684\u4e1a\u7ee9\uff0c\u56e0\u4e3a\u4ed6\u4eec\u4e13\u6ce8\u4e8e\u4ef7\u683c\u7ade\u4e89\u529b\u548c\u8fd0\u8425\u6548\u7387\u3002\u8be5\u516c\u53f8\u4e13\u6ce8\u4e8e\u4ee5\u66f4\u4f4e\u7684\u4ef7\u683c\u63a8\u52a8\u9700\u6c42\uff0c\u5e76\u524a\u51cf\u6210\u672c\u4ee5\u63d0\u9ad8\u5229\u6da6\u7387\uff0c\u8fd9\u5df2\u663e\u793a\u51fa\u6210\u6548\uff0c\u51762009\u5e74\u7684\u8425\u4e1a\u5229\u6da6\u7387\u4e3a4.3%\uff0c\u800c\u53bb\u5e74\u540c\u671f\u4e3a4.0%\u3002\u5728\u7ecf\u6d4e\u75b2\u8f6f\u7684\u60c5\u51b5\u4e0b\uff0c\u4e2d\u56fd10\u6708\u4efd\u7684\u96f6\u552e\u989d\u8d85\u8fc7\u4e86\u589e\u957f\uff0c\u663e\u793a\u51fa\u6d88\u8d39\u8005\u652f\u51fa\u7684\u5f39\u6027\u3002\u5728\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\u7684\u5149\u68cd\u8282\u4fc3\u9500\u6d3b\u52a8\u4e2d\uff0c\u8be5\u516c\u53f8\u7684\u4ea4\u6613\u91cf\u548c\u8ba2\u5355\u91cf\u4ee5\u53ca\u7528\u6237\u53c2\u4e0e\u5ea6\u4e5f\u521b\u4e0b\u4e86\u7eaa\u5f55\u3002\u5373\u5c06\u5230\u6765\u7684\u8282\u65e5\u4e5f\u53ef\u80fd\u523a\u6fc0\u6d88\u8d39\u8005\u652f\u51fa\u3002<strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a150\u7f8e\u5143\u81f3175\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Applied Materials, Inc. (AMAT)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>4Q23 Revenue: <\/strong>$6.72B, -0.4% YoY, beat estimates by $220M<\/li><li><strong>4Q23 Non-GAAP EPS:<\/strong> $2.12, beat estimates by $0.13<\/li><li><strong>1Q24 Guidance:<\/strong> Expect net sales to be approximately $6.47B vs consensus of $6.37B, plus or minus $400M; Non-GAAP adjusted diluted EPS is expected to be in the range of $1.72 to $2.08 vs consensus of $1.83.<\/li><li><strong>Comment:<\/strong> The company reported a strong set of earnings. Consumer demand also proved to be resilient despite the macroeconomic uncertainties. While results from companies such as Intel and Advanced Micro Devices indicate that the market is showing signs of recovery, the company is still likely to face export challenges between the U.S. and China. The media also reported that the company was under criminal investigation by the Justice Department for sending its equipment to a Chinese company without the required licenses, with hundreds of millions of dollars of equipment being involved. <strong>2Q24 recommended trading range<\/strong><strong>: $130 to $150. Neutral Outlook.&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u5e94\u7528\u6750\u6599 (AMAT)&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u8425\u6536\uff1a<\/strong>67.2\u4ebf\u7f8e\u5143, \u540c\u6bd4\u8dcc\u5e450.4%\uff0c\u8d85\u9884\u671f2.2\u4ebf\u7f8e\u5143<\/li><li><strong>23\u8d22\u5e74\u7b2c\u56db\u5b63Non-GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a2.12\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.13\u7f8e\u5143&nbsp;<\/li><li><strong>24\u8d22\u5e74\u7b2c\u4e00\u5b63\u6307\u5f15\uff1a<\/strong>\u9884\u8ba1\u51c0\u9500\u552e\u989d\u7ea6\u4e3a64.7\u4ebf\u7f8e\u5143\uff0c\u800c\u5e02\u573a\u9884\u671f\u4e3a63.7\u4ebf\u7f8e\u5143\uff0c\u4e0a\u4e0b\u6d6e\u52a84\u4ebf\u7f8e\u5143\uff1bNon-GAAP\u8c03\u6574\u540e\u7684\u7a00\u91ca\u6bcf\u80a1\u6536\u76ca\u9884\u8ba1\u57281.72\u7f8e\u5143\u81f32.08\u7f8e\u5143\u4e4b\u95f4\uff0c\u800c\u5e02\u573a\u9884\u671f\u4e3a1.83\u7f8e\u5143\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u8be5\u516c\u53f8\u62a5\u544a\u4e86\u4e00\u7cfb\u5217\u5f3a\u52b2\u7684\u6536\u76ca\u3002\u5c3d\u7ba1\u5b8f\u89c2\u7ecf\u6d4e\u5b58\u5728\u4e0d\u786e\u5b9a\u6027\uff0c\u4f46\u6d88\u8d39\u9700\u6c42\u4e5f\u88ab\u8bc1\u660e\u5177\u6709\u5f39\u6027\u3002\u5c3d\u7ba1\u82f1\u7279\u5c14(Intel)\u548c\u8d85\u5fae\u534a\u5bfc\u4f53(AMD)\u7b49\u516c\u53f8\u7684\u4e1a\u7ee9\u663e\u793a\u5e02\u573a\u6b63\u5728\u51fa\u73b0\u590d\u82cf\u8ff9\u8c61\uff0c\u4f46\u8be5\u516c\u53f8\u4ecd\u6709\u53ef\u80fd\u9762\u4e34\u4e2d\u7f8e\u4e4b\u95f4\u7684\u51fa\u53e3\u6311\u6218\u3002\u5a92\u4f53\u8fd8\u62a5\u9053\u79f0\uff0c\u8be5\u516c\u53f8\u6b63\u5728\u63a5\u53d7\u53f8\u6cd5\u90e8\u7684\u5211\u4e8b\u8c03\u67e5\uff0c\u56e0\u4e3a\u5b83\u5728\u6ca1\u6709\u83b7\u5f97\u5fc5\u8981\u8bb8\u53ef\u8bc1\u7684\u60c5\u51b5\u4e0b\u5411\u4e00\u5bb6\u4e2d\u56fd\u516c\u53f8\u63d0\u4f9b\u8bbe\u5907\uff0c\u6d89\u53ca\u4ef7\u503c\u6570\u4ebf\u7f8e\u5143\u7684\u8bbe\u5907\u3002<strong>24\u8d22\u5e74\u7b2c\u4e8c\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a130\u7f8e\u5143\u81f3150\u7f8e\u5143\u3002\u4e2d\u6027\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Ross Stores Inc. (ROST)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>3Q23 Revenue: <\/strong>$4.92B, +7.7% YoY, beat estimates by $80M<\/li><li><strong>3Q23 Non-GAAP EPS:<\/strong> $1.33, beat estimates by $0.11<\/li><li><strong>FY23 Guidance:<\/strong> EPS is expected to be in the range of $5.30 to $5.36 versus $4.38 last year.<\/li><li><strong>3Q23 Dividend: <\/strong>The company declares a $0.335\/share quarterly dividend, in line with the previous. Payable Dec. 29; for shareholders of record Dec. 5; ex-div Dec. 4.<\/li><li><strong>Comment:<\/strong> The company reported a strong set of results and increased its guidance, highlighting that consumers reacted well to the company\u2019s off-price merchandise. Consumer spending still remains shaky amidst ongoing macroeconomic uncertainties and geopolitical tensions, but the company remain confident in the resilience of the off-price sector and the company\u2019s ability to operate successfully within it, as consumers continue to look for cheap and value goods. With interest rates at their peak, alongside the upcoming festive season and holidays, consumer spending is likely to improve for the rest of the year. <strong>4Q23 recommended trading range<\/strong><strong>: $120 to $140. Positive Outlook.&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7f57\u65af\u767e\u8d27 (ROST)&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63\u8425\u6536\uff1a<\/strong>49.2\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e457.7%\uff0c\u8d85\u9884\u671f8,000\u4e07\u7f8e\u5143<\/li><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63Non-GAAP\u6bcf\u80a1\u76c8\u5229<\/strong>\uff1a1.33\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.11\u7f8e\u5143&nbsp;<\/li><li><strong>23\u8d22\u5e74\u6307\u5f15\uff1a<\/strong>\u6bcf\u80a1\u6536\u76ca\u9884\u8ba1\u57285.30\u7f8e\u5143\u81f35.36\u7f8e\u5143\u4e4b\u95f4\uff0c\u53bb\u5e74\u4e3a4.38\u7f8e\u5143\u3002<\/li><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63\u80a1\u606f\uff1a<\/strong>\u8be5\u516c\u53f8\u5ba3\u5e03\u6bcf\u80a10.335\u7f8e\u5143\u7684\u5b63\u5ea6\u80a1\u606f\uff0c\u4e0e\u4e4b\u524d\u4e00\u81f4\u300212\u670829\u65e5\u4ed8\u606f\u65e5\uff1b12\u67085\u65e5\u80a1\u4e1c\u767b\u8bb0\u65e5\uff1b12\u67084\u65e5\u9664\u606f\u65e5\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u8be5\u516c\u53f8\u516c\u5e03\u4e86\u4e00\u7cfb\u5217\u5f3a\u52b2\u7684\u4e1a\u7ee9\uff0c\u5e76\u63d0\u9ad8\u4e86\u9884\u671f\uff0c\u5f3a\u8c03\u6d88\u8d39\u8005\u5bf9\u8be5\u516c\u53f8\u7684\u6298\u6263\u5546\u54c1\u53cd\u5e94\u826f\u597d\u3002\u5728\u5f53\u524d\u7684\u5b8f\u89c2\u7ecf\u6d4e\u4e0d\u786e\u5b9a\u6027\u548c\u5730\u7f18\u653f\u6cbb\u7d27\u5f20\u5c40\u52bf\u4e2d\uff0c\u6d88\u8d39\u8005\u652f\u51fa\u4ecd\u7136\u4e0d\u7a33\u5b9a\uff0c\u4f46\u968f\u7740\u6d88\u8d39\u8005\u7ee7\u7eed\u5bfb\u627e\u5ec9\u4ef7\u548c\u7269\u6709\u6240\u503c\u7684\u5546\u54c1\uff0c\u8be5\u516c\u53f8\u5bf9\u6298\u6263\u90e8\u95e8\u7684\u5f39\u6027\u548c\u516c\u53f8\u5728\u5176\u4e2d\u6210\u529f\u8fd0\u8425\u7684\u80fd\u529b\u4ecd\u7136\u5145\u6ee1\u4fe1\u5fc3\u3002\u968f\u7740\u5229\u7387\u8fbe\u5230\u5cf0\u503c\uff0c\u52a0\u4e0a\u5373\u5c06\u5230\u6765\u7684\u8282\u65e5\u548c\u5047\u671f\uff0c\u6d88\u8d39\u8005\u652f\u51fa\u53ef\u80fd\u4f1a\u5728\u4eca\u5e74\u5269\u4f59\u65f6\u95f4\u91cc\u6709\u6240\u6539\u5584\u3002<strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a120\u7f8e\u5143\u81f3140\u7f8e\u5143\u3002\u79ef\u6781\u524d\u666f\u3002<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>NetEase Inc. (NTES)<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>3Q23 Revenue: <\/strong>$3.7B, +11.6% YoY, miss estimates by $80M<\/li><li><strong>3Q23 Non-GAAP EPADS:<\/strong> $1.84, beat estimates by $0.37<\/li><li><strong>4Q23 Guidance:<\/strong> No guidance provided.<\/li><li><strong>Dividend and share repurchase: <\/strong>declared a Q3 dividend of 49.5 cents per US share and introduced a share repurchase program of up to $5bn.<\/li><li><strong>Comment: <\/strong>In the third quarter, NetEase delivered mixed results, reporting $3.74bn in sales, reflecting a noteworthy 16% YoY increase in earnings and a 9% rise in sales. Specifically, revenue from Games and Related Value-Added Services exceeded estimates, reaching 21.78bn yuan, while Innovative Businesses and Others fell slightly short with net revenue of 1.98bn yuan against the estimated 2.17bn yuan. Youdao and Cloud Music reported lower-than-expected net revenues at 1.54bn yuan and 1.97bn yuan respectively. The adjusted net income per ADS was 13.30 yuan, and gross profit, spanning Games and Related Value-Added Services, Youdao, Cloud Music, Innovative Businesses and others, surpassed estimates with higher gross profit margins in all sectors. NetEase&#8217;s CEO, attributes the robust results to the company&#8217;s diverse and strong games portfolio, resulting in a nearly 12% YoY increase in total net revenues. Video games constituted 80% of NetEase&#8217;s revenue, with Ding highlighting the success of flagship titles like &#8216;Fantasy Westward Journey&#8217; and newer hits such as &#8216;Racing Master,&#8217; &#8216;Justice&#8217; mobile game, and &#8216;Dunk City Dynasty.&#8217; Despite falling short of revenue expectations, the company demonstrated a positive trend in Q3, with sales surpassing costs. This suggests a potential for sustained growth in the company&#8217;s bottom line. <strong>4Q23 recommended trading range<\/strong><strong>: $110 to $125. Positive Outlook.&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u7f51\u6613 (NTES)&nbsp;<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63\u8425\u6536\uff1a<\/strong>37.0\u4ebf\u7f8e\u5143, \u540c\u6bd4\u589e\u5e4511.6%\uff0c\u900a\u9884\u671f8,000\u4e07\u7f8e\u5143<\/li><li><strong>23\u8d22\u5e74\u7b2c\u4e09\u5b63Non-GAAP\u6bcf\u80a1\u4e8f\u635f<\/strong>\uff1a1.84\u7f8e\u5143\uff0c\u8d85\u9884\u671f0.37\u7f8e\u5143\u00a0<\/li><li><strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u6307\u5f15\uff1a<\/strong>\u4e0d\u63d0\u4f9b\u6307\u5f15\u3002<\/li><li><strong>\u77ed\u8bc4\uff1a<\/strong>\u7b2c\u4e09\u5b63\u5ea6\uff0c\u7f51\u6613\u7684\u4e1a\u7ee9\u559c\u5fe7\u53c2\u534a\uff0c\u9500\u552e\u989d\u4e3a37.4\u4ebf\u7f8e\u5143\uff0c\u5229\u6da6\u540c\u6bd4\u589e\u957f16%\uff0c\u9500\u552e\u989d\u540c\u6bd4\u589e\u957f9%\u3002\u5177\u4f53\u800c\u8a00\uff0c\u6e38\u620f\u53ca\u76f8\u5173\u589e\u503c\u670d\u52a1\u7684\u6536\u5165\u8d85\u8fc7\u9884\u671f\uff0c\u8fbe\u5230217.8\u4ebf\u5143\uff0c\u800c\u521b\u65b0\u4e1a\u52a1\u548c\u5176\u4ed6\u4e1a\u52a1\u7684\u51c0\u6536\u5165\u7565\u4f4e\u4e8e\u9884\u671f\uff0c\u4e3a19.8\u4ebf\u5143\uff0c\u800c\u9884\u671f\u4e3a21.7\u4ebf\u5143\u3002bbb\u548c\u4e91\u97f3\u4e50\u7684\u51c0\u6536\u5165\u5206\u522b\u4e3a15.4\u4ebf\u5143\u548c19.7\u4ebf\u5143\uff0c\u4f4e\u4e8e\u9884\u671f\u3002\u8c03\u6574\u540e\u7684\u6bcf\u5e7f\u544a\u51c0\u6536\u5165\u4e3a13.30\u5143\uff0c\u6bdb\u5229\u8d85\u8fc7\u9884\u671f\uff0c\u6db5\u76d6\u6e38\u620f\u53ca\u76f8\u5173\u589e\u503c\u670d\u52a1\u3001\u6709\u9053\u3001\u4e91\u97f3\u4e50\u3001\u521b\u65b0\u4e1a\u52a1\u7b49\uff0c\u5404\u9886\u57df\u6bdb\u5229\u5747\u9ad8\u4e8e\u9884\u671f\u3002\u7f51\u6613\u9996\u5e2d\u6267\u884c\u5b98\u5c06\u5f3a\u52b2\u7684\u4e1a\u7ee9\u5f52\u529f\u4e8e\u516c\u53f8\u591a\u6837\u5316\u548c\u5f3a\u5927\u7684\u6e38\u620f\u7ec4\u5408\uff0c\u5bfc\u81f4\u603b\u51c0\u6536\u5165\u540c\u6bd4\u589e\u957f\u8fd112%\u3002\u89c6\u9891\u6e38\u620f\u5360\u7f51\u6613\u6536\u5165\u768480%\uff0c\u4e01\u78ca\u5f3a\u8c03\u4e86\u300a\u68a6\u5e7b\u897f\u6e38\u300b\u7b49\u65d7\u8230\u6e38\u620f\u4ee5\u53ca\u300a\u8d5b\u8f66\u5927\u5e08\u300b\u3001\u300a\u6b63\u4e49\u300b\u624b\u673a\u6e38\u620f\u548c\u300a\u704c\u7bee\u57ce\u738b\u671d\u300b\u7b49\u8f83\u65b0\u7684\u70ed\u95e8\u6e38\u620f\u7684\u6210\u529f\u3002\u5c3d\u7ba1\u6536\u5165\u4f4e\u4e8e\u9884\u671f\uff0c\u4f46\u8be5\u516c\u53f8\u5728\u7b2c\u4e09\u5b63\u5ea6\u8868\u73b0\u51fa\u79ef\u6781\u7684\u8d8b\u52bf\uff0c\u9500\u552e\u989d\u8d85\u8fc7\u4e86\u6210\u672c\u3002\u8fd9\u8868\u660e\u8be5\u516c\u53f8\u7684\u5229\u6da6\u6709\u6301\u7eed\u589e\u957f\u7684\u6f5c\u529b\u3002<strong>23\u8d22\u5e74\u7b2c\u56db\u5b63\u5ea6\u5efa\u8bae\u4ea4\u6613\u533a\u95f4\uff1a110\u7f8e\u5143\u81f3125\u7f8e\u5143\u3002\u79ef\u6781\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 McDonalds Corp. (MCD US) Shares closed higher above the 200dEMA with a surge in volume. 5dEMA is about to cross the 200dEMA, and 20dEMA is about to cross the 50dEMA. MACD is positive and RSI is at an \u201coverbought\u201d level. Long \u2013 Entry 274, Target 290, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[],"class_list":["post-35500","post","type-post","status-publish","format-standard","hentry","category-technical-analysis"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"United States | Singapore | Hong Kong | Earnings Shares closed higher above the 200dEMA with a surge in volume. 5dEMA is about to cross the 200dEMA, and 20dEMA is about to cross the 50dEMA. MACD is positive and RSI is at an \u201coverbought\u201d level. Long \u2013 Entry 274, Target 290, Stop 266 Restaurant Brands\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"kaijie tang\"\/>\n\t<meta name=\"keywords\" content=\"technical analysis\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.kgieworld.sg\/research\/technical-analysis-17-november-2023\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.10\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"KGI Singapore Research \u2022 Singapore&#039;s leading broker offering Futures, FX, Equities and Wealth Management.\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Technical Analysis \u2013 17 November 2023 \u2022 KGI Singapore Research\" \/>\n\t\t<meta property=\"og:description\" content=\"United States | Singapore | Hong Kong | Earnings Shares closed higher above the 200dEMA with a surge in volume. 5dEMA is about to cross the 200dEMA, and 20dEMA is about to cross the 50dEMA. 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MACD is positive and RSI is at an \u201coverbought\u201d level. 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MACD is positive and RSI is at an \u201coverbought\u201d level. Long \u2013 Entry 274, Target 290, Stop 266 Restaurant Brands","og:url":"https:\/\/www.kgieworld.sg\/research\/technical-analysis-17-november-2023\/","og:image":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr","og:image:secure_url":"https:\/\/www.kgieworld.sg\/research\/wp-content\/uploads\/2026\/04\/KGI-Logo_\u255b\u03b5ai\u252c\u253carRGB_PNG.png?wsr","article:published_time":"2023-11-16T23:07:00+00:00","article:modified_time":"2023-11-17T06:19:24+00:00","twitter:card":"summary","twitter:title":"Technical Analysis \u2013 17 November 2023 \u2022 KGI Singapore Research","twitter:description":"United States | Singapore | Hong Kong | Earnings Shares closed higher above the 200dEMA with a surge in volume. 5dEMA is about to cross the 200dEMA, and 20dEMA is about to cross the 50dEMA. MACD is positive and RSI is at an \u201coverbought\u201d level. 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