Technical Anaaysis International Business Machine Corp US:IBM (Bullish)

International Business Machine Corp (US: IBM) corrective downside has come to a halt after prices managed to rebound above the major resistance turned support zone at US$132.64-US$136.09 and it has successfully broken above the larger falling wedge. Recent technical also indicate further upside also:

 

  1. The cup and handle formation indicate a bullish reversal to the upside and with the morning star formation briefly breaking above the flag/handle, it has increased the probability of the success of the pattern.
  2. Ichimoku is showing a three bullish golden cross and with the recent morning star breaking above the kumo.
  3. Major resistance zone is seen weakening after testing 4 times. Thus, it increased the probability of an upside break.

 

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 


Technical Analysis Facebook Inc. US:FB (Bullish)

Facebook Inc (US: FB) The rebounding from support zone 2 came earlier than expected but despite a show of bullish technical signal, we remain caution about the potential upside as wave theory suggest that we are still in the midst of corrective wave formation. :

 

  1. The formation of the bullish hammer above the support zone 2 at US$313.79-US$319.59 is an indication of a bullish reversal.
  2. Stochastic Oscillator is showing an oversold crossover signal and likely, we are seeing upside rebound to form the 2nd leg of corrective wave B.
  3. Longer-term view, should support turned resistance 1 at US$333-US$340 is not broken, then the next rebound will likely be at US$300.00

 

*Expected timeline of the trade is 5 weeks from the date of report issuance.

* Ichimoku is still showing downtrend and by anticipating a reversal, there is a larger risk of continuing downtrend.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 


Technical Analysis Sembcorp Industries Ltd US:U96 (Bullish)

Sembcorp Industries Ltd (US: U96) downside correction may see some temporary upside relief based on the technicals:

 

  1. Potential double bottom is looking to break the neckline resistance at $1.92 with a strong Tuesday’s bullish candle, indicating strong momentum. Furthermore, the double bottom is at the support zone.
  2. The bullish candle on Tuesday had a snap bullish closure above the Tenkan-Sen and Kijun-Sen.
  3. Prices briefly broke above the minor downtrend line. Furthermore, the Fibonacci retracement level at 61.8% of $1.78-$2.23 confluence with the slope resistance of the major downtrend line.
  4. Volume has cross above the 20-period moving average

 

*Expected timeline of the trade is 6 weeks from the date of report issuance.

*The corrective downtrend is still ongoing, any upside is the corrective nature of the bearish downside, hence, risk of further sliding is still on should the neckline resistance at $1.92 fails to break.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

Click here to learn more about trading stocks in  the US

Click here to open a POEMS trading account

Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 


Technical Analysis: Razer Inc. US:1337 (Bullish)

Razer Inc (US: 1337) downtrend was strong after fulfilling the diamond top bearish reversal but recent technical indicate that the downtrend may come to a halt after bullish signal is spotted:

 

  1. The formation of the larger falling wedge is a sign of a bullish reversal signal. Once immediate resistance at HK$1.70 is broken, the upside confidence will increase.
  2. Although Ichimoku signals a bearish trend, last Friday’s bullish Marobozu gaps up above the Tenkan-Sen, which confirms Thursday’s bullish rebound at HK$1.50-HK$1.56.
  3. The RSI indicate a bullish divergence.

 

*Expected timeline of the trade is 5 weeks from the date of report issuance.

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

Click here to learn more about trading stocks in the US

Click here to open a POEMS trading account

Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 


Technical Analysis SATS Ltd US:S58 (Bullish)

SATS Ltd (US: S58) May’s rebound has not break and stays above the psychological resistance of $4.00 for 3 months. Yet the multiple testing has weakened the resistance zone of $4.20-$4.29 in the process with each shortfall displayed with higher lows. As such, technical has shown clear potential return of the bull:

 

  1. The formation of the ascending triangle indicate a higher chance of breaking especially the resistance has been weakened by multiple testing.
  2. Within the ascending triangle, the rounding bottom which forms the cup and handle formation is likely confirmed after Tuesday’s bullish candle has close above the flag/handle and also the 61.8% Fibonacci retracement level of $4.58-$3.55.
  3. Ichimoku has shown three signs of bullish signal after the Tenkan-Sen has crosses above the Kijun-sen, Chikou-Span returning above the candles and both the Senkou-Span A, B sloping up aggressively.
  4. Should price fails to break, the support zone at $3.86-$3.92 offers a potential rebound.

 

*Expected timeline of the trade is 5 weeks from the date of report issuance.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Sea Ltd US:SE (Bullish)

Sea Ltd (US: SE) Upside has been performing relatively well after sustaining above the US$300.00 psychological resistance on August 2021. Despite Ichimoku showing two out of three death cross and Senkou-span A sloping down, technical price action indicate that there is a possible chance of the downside merely a correction:

 

  1. The falling wedge formation is a sign of a bullish continuation pattern after last Friday’s bullish hammer close above the lower boundary of the immediate resistance zone at US$314.62-US$322.84. This indicate that bulls are gaining momentum to attempt to break above the upper boundary of the resistance zone.
  2. Price target at 200.00% of the previous pennant has yet to be met after prices met the 161.8% extension level. Sell-off remain corrective based on the momentum after rebound attempt to fill the sell gap twice on 17th September and 23rd
  3. RSI indicate a rebound above the 40 support line, should it clear the 50 mean reversion line, there is a possibility of a return of the bull.

 

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 

 


Popular traded US stocks on POEMS in August 2021

Popular traded US stocks on POEMS in August 2021

The following lists some of the more popular stocks – not in any order of ranking – traded by POEMS clients along with major stock announcements in the month of August.

At a glance:

  • After moving down sharply, all three major indices trended higher in the second half of the month, to record highs.
  • US infrastructure package has been approved. The Fed said tapering could start this year.

All three US major indices – Dow Jones, S&P 500 and Nasdaq Composite – traded higher to record levels in August. In the middle of the month, all three indices had dipped on the back of fears of the COVID-19 Delta variant and a 1.1% fall in retail sales, which was worse than the -0.3% expected.

S&P 500 Nasdaq Dow Jones
Month opening 4,406.86 points 14,758.60 points 34,968.56 points
Highest before dip 4,479.72 points
(+1.65%)
15,184.27 points
(+2.88%)
35,631.83 points
(+1.89%)
Lowest after dip 4,382.44 points
(-0.55%)
14,423.16 points
(-2.27%)
34,960.25 points
(-0.02%)
Month-close 4,552.69 points
(+3.31%)
15,259.24 points
(+3.40%)
35,360.74 points
(+1.12%)

Percentage gains were calculated from month openings

The month marked an important milestone for the S&P 500 as it doubled from its pandemic low of 2,237.40.

Popular traded US stocks on POEMS in August 2021

 

 

All three indices managed to close higher despite the setbacks, suggesting market confidence.

Biden’ long-awaited infrastructure package was approved, though the budget was short of his March 202 proposal by US$2.3tn. The money will be used to upgrade roads, bridges, tunnels, airports, rail networks and the power grid. Americans’ access to broadband and clean drinking water will also be improved. As the package will widen the US’ national budget deficit by US$256bn, several measures will have to be taken to fund it. About US$200bn of unspent COVID-19 relief money that was intended for unemployment insurance will likely be used. A tax on cryptocurrencies[2] is also being considered.

The annual Jackson Hole Symposium took place late in the month, causing the three indices to rebound from their previous bearish lows. On the first day of the symposium, Nasdaq gained 0.83%, S&P gained 0.81% while the Dow recovered the least, by 0.64%. Jay Jerome.

Powell signalled that the Fed could start tapering this year when inflation reaches around 2% and substantial progress has been made towards maximum employment. Powell is still confident that inflation is transitory, with the higher prices coming from sectors that were badly hit by the pandemic.

Additionally, the Fed says any decision to raise rates will not be affected by tapering, although the requirements for raising interest rates are similar to those for tapering, with the added requirement of inflation being on track to exceed 2% for some time.

The Fed is being careful with monetary tightening as it is worried of unnecessarily roiling markets. If tightening is premature, there might be a repeat of the taper tantrum in 2013 when Treasury yields spiked, triggering volatility and sell-offs in the market.

As usual, we have included technical charts for our 10 counters. The charts are for your information only and the support and resistance levels discussed are solely based on our dealers’ views. They should not be construed as buy or sell recommendations and investors/traders are advised to exercise their own due diligence before making any trade.

Amazon (NYSE: AMZN)

Share price of the largest e-commerce player by revenue dropped after earnings were announced in August. It dropped by 5.28%, from an opening price of US$3,353.10 to a low of US$3,175.76.

Q2 EPS was US$15.12, 46.79% higher than Q2 2020’s US$10.30. Net income was US$7.8bn, 50% higher than Q2 2020’s US$5.2bn.[3] The increase could be explained by consumers flocking to online shopping while taking shelter at home. But as the pandemic wanes, quarantines will be lifted and consumers will be able to shop more conveniently in malls. This may lead to slower growth in Q3 for Amazon.[4]

Amazon Web Services, which accounts for 54% of the company’s operating income, announced a partnership with Dish Network to build out cloud-based 5G infrastructure. It said it would open data centres in Israel and the UAE. These will enable Amazon to serve end-users in the Middle East, providing room for further growth even if its e-commerce business slows down.

Popular traded US stocks on POEMS in August 2021

 

Source: POEMS
 

Technical analysis:

Status: Neutral
Support: US$3,369.53
Resistance: US$3,497.51
Immediate resistance must be broken for more upside

Sea Limited (NYSE: SE)

Sea is a Singapore-based consumer Internet company that operates Garena, Shopee and SeaMoney. It surged up to a new high of US$344.77, up 23.22% from its month opening of US$279.80. The increase could be largely attributed to the company’s high revenue growth.

Sea reported an adjusted loss per share of 61 cents on revenue of US$2.28bn. Analysts had expected an adjusted loss per share of 49 cents on revenue of US$2.06bn,[5] with a net loss of US$433.7mn, 10.21% more than the US$393.5mn in Q2 2020.[6] Revenue, however, grew to US$2.3bn in Q2, 160% more than the previous year’s US$882mn. The increase in net loss despite higher revenue was due to a 126.6% jump in operating expenses, from US$573.6mn to US$1.3bn. The money was mostly spent on sales and marketing as the company aggressively chased after market share for potentially even higher revenue growth in the near future.

Sea raised its guidance for both digital entertainment and e-commerce. Digital entertainment bookings are expected to be between US$4.5bn and US$4.7bn while e-commerce revenue is expected to be between US$4.7bn and US$4.9bn in 2021. This could cover Sea’s high operating expenses. Based on the guidance, analysts believe that the company will post a final loss in 2021 before a turnaround to profits in 2022.[7]

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Bullish market structure
Support: US$321.60
Resistance: US$349.22
Immediate resistance must be broken for more upside

Vaxart Inc (NASDAQ: VXRT)

Vaxart is an American biotech vaccine developer. It announced that Julie M. Cherrington is joining its board of directors[8]. Julie M. Cherrington is experienced in biological sciences and well-versed in the transfer of drugs from the development process to commercialisation.

Dr. Cherrington is seen as a great asset to Vaxart, which is preparing to start Phase II trials of COVID-19 oral pills. Oral pills hold promise as existing injected vaccines need to be transported using cold chain logistics[9], which is still lacking in some areas.

Transportation difficulties coupled with the emergence of the more contagious Delta variant and vaccination hesitancy[10] indicate that the pandemic could be around for a while. With the pandemic not subsiding anytime soon, having pills can help countries gain herd immunity, especially in areas with poor accessibility. Vaxart’s lowest trading price during the month was US$7.61 while its highest was US$10.33.

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Neutral
Support: US$8.51
Resistance: US$9.46
Range-bound

Advanced Micro Devices (NASDAQ: AMD)

AMD, a global company that designs and develops semiconductor devices used in computer processing, went on a bull run for six days after releasing earnings. It hit an all-time high of US$122.49, up 15.62% from its month opening of US$105.93.

Q2 2021 revenue was US$3.85bn, 99% higher than Q2 2020’s US$1.932bn. Net income was US$778mn, 260% higher than Q2 2020’s US$216mn. This led to an EPS of US$0.63, 250% higher than Q2 2020’s US$0.18.

AMD expects 2021 revenue to rise 60% YoY, on the basis that Tesla (NASDAQ: TSLA) will be using its processors and GPUs for its new Tesla Model S and X vehicles. AMD also shared that more than 40 game developers have pledged to support its FidelityFX Super Resolution.[11]

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Neutral
Support: US$103.87
Resistance: US$112.41
Range-bound

Ocugen Inc (NASDAQ: OCGN)

 

Ocugen is a biopharmaceutical company focusing on curing blindness. Its share price touched a month-high of US$9.35 and also a low of US$6.68. The company has partnered Bharat Biotech to create a COVID-19 vaccine called Covaxin.

The development of this vaccine caused an issue for the company . Ocugen had released an announcement in February 2021, which caused a huge spike in its share price to US$18.77. The announcement was subsequently deemed misleading as Ocugen’s application to the FDA had failed to include sufficient data to support an emergency use authorisation. The stock was sold down, which caused investors who suffered losses to file a lawsuit against the company for damages. Its shares are now trading at around US$7. Investors have to ponder whether its share price has factored in the worst.

As of now, Covaxin is under review for emergency use in Canada.[14]

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Neutral
Support: US$6.98
Resistance: US$9.02
Range-bound

Robinhood Markets (NASDAQ: HOOD)

Robinhood is a US fintech company with 31mn users. It offers commission-free trading and various financial products for investment. Revenue is earned from order flows and premium membership fees.

Robinhood got listed on the Nasdaq on 29 July 2021 at US38.[15] It closed at US$34.82 on its debut, reflecting investors’ hesitance over possible regulatory scrutiny.[16] Share price subsequently went on a bull charge for four days, hitting a high of US$85. This was up 123.7% from its opening price of US$38, possibly due to Ark Invest’s – Cathie Wood – purchase of 3.15mn shares worth US$147.5mn.[17]

Shortly after, its share price fell as the company reported a net loss of US$502mn. It also warned investors that its Q3 results could be affected by a slowdown in trading after a record Q2. Early investors also started to take profits. These included a number of venture capital firms such as Andreessen Horowitz and New Enterprise Associates. Filing to sell up to 97,876,033 shares, they contributed to a 47.86% drop in Robinhood from its month high to a closing price of US$44.32.[18]

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Neutral
Support: US$33.24
Resistance: US$50.56
Range-bound

QuantumScape (NYSE: QS)

QuantumScape is a battery start-up backed by Bill Gates and Volkswagen. It has a vision to extend battery ranges to support fast charging and lower costs[19]. The stock is trading at around US$21, down from its all-time high of US$114.7.

QuantumScape’s prototype batteries will be delivered in 2022. CEO Jagdeep Singh said the company recently managed to produce a 10-layer battery cell which will help improve battery performance to a level of parity with combustion engines. This breakthrough has given Singh the confidence that the company could commercialise the batteries by 2025.

That said, there is no way investors are able to test the claims, given the secrecy surrounding the battery-development industry. According to an analysis by Seeking Alpha[20], the batteries were not tested out of the lab and are currently still the size of an iWatch battery. This indicates they are still far from commercialisation, requiring lots of funding for research and development. Which means QuantumScape is unlikely to be profitable in the mid-term.

Once commercialised, Volkswagen will be able to source from QuantumScape the batteries it needs for its electric vehicles. QuantumScape will be able to tap the experience of Bill Gates and Volkswagen to stride towards its goals.

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Neutral
Support: US$21.51
Resistance: US$24.52
Range-bound

Palantir Technologies (NYSE: PLTR)

Palantir is an American software company specialising in big data analytics. It released its Q2 earnings on 12 August 2021. Revenue grew 49% YoY to US$376mn, beating estimates of US$352.3mn. Twenty net new customers were added, translating to a 13% increase in total customers QoQ.

Palantir expects Q3 revenue to be around US$385mn and annual revenue growth of 30% or more through 2025 [21]. It is reducing its reliance on contracts from the government, by wooing commercial customers through subscription-based data gathering and analytics technologies. This could diversify its revenue streams.

One area that has drawn scrutiny is Palantir’s increased investments in special purpose acquisition companies or SPACs. Palantir is seen as using these vehicles to win business from emerging companies that can benefit from its big data analytics software[22], in other words acquiring revenue the easy way.

Shortly after its earnings announcement, Cathie Wood’s active funds bought US$139mn worth of Palantir shares[23]. This was on the back of its buoyant sales forecasts. Its share price leapt by 20.22% from its opening price of US$21.91 to close at US$26.34.

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Bullish market structure
Support: US$25.36
Resistance: US$26.95
Immediate resistance has to be broken for more upside

AMC Entertainment Holdings Inc (NYSE: AMC)

The largest cinema chain in the US, AMC Entertainment, reported better-than-expected Q2 earnings. Revenue of US$444.7mn and a net loss of 71 cents a share beat market expectations of US$382mn and loss per share of US$1.42. AMC reached a high of US$48.30 and a low of US$28.91.

A few other things were also announced by AMC during the month. One was its acceptance of bitcoins[24] in the US by year-end, citing increasing enthusiasm on cryptocurrencies. AMC will also start accepting Apple Pay and Google Pay. However, it did not specify how bitcoins would be used for payment. Additionally, AMC is adding new theaters in three locations: two in LA, two in Chicago and one in Atlanta[25]. This is in preparation for a return to cinemas by movie goers.

AMC traded sharply higher on 24 August 2021, opening at US$37.19 and closing at US$44.26. The reason for the spike was increased discussions on Reddit’s forum and AMC’s trending to social media[26]. This suggests that AMC is still highly driven by speculation and investors have to be wary.

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Neutral
Support: US$31.26
Resistance: US$46.61
Range-bound

Naked Brand Group (NASDAQ: NAKD)

A meme stock, Naked Brand is an apparel and swimwear company based in Australia. At the beginning of the year, it leveraged its higher share price to sell shares, raising cash to repay debts and acquire businesses[27]. In August, its shares troughed at US$0.50 and peaked at US$0.698, a far cry from its IPO price of US$1.70 in January 2021[28]. This reflected a short squeeze on its stock following a meme-stock rally in January 2021.

Naked Brand has lost no time in acquiring a company, though no details have been revealed[29]. The reason for its rush is its potential delisting from Nasdaq in October 2021. Naked Brand has received notification from Nasdaq[30] “that the minimum bid price for the Company’s ordinary shares was below $1.00 per share for a period of 30 consecutive business days”, which is against its listing rules. If removed, its shares will trade over the counter. The company will have to ensure that its stock is able to trade at least at US$1.00 for a minimum of 10 consecutive days to remain listed.

If management is able to prove that its acquisition can add synergies to the group, this may also save Naked Brand from a delisting. Its Nasdaq fate now appears to hinge on an outcome of the acquisition.

Popular traded US stocks on POEMS in August 2021

 

 

Technical analysis:
Status: Neutral
Support: US$0.585
Resistance: US$0.77
Range-bound

Bloomberg analysts’ recommendations

The table below shows the consensus ratings and average ratings of all analysts updated on Bloomberg in the last 12 months. Consensus ratings have been computed by standardising analysts’ ratings to a scale of 1 (Strong Sell) to 5 (Strong Buy). The table also shows the number of analysts’ recommendations to buy, hold or sell the stocks as well as their average target prices.

Security Consensus Rating BUY HOLD SELL Target Price (US$)
Amazon (NYSE: AMZN) 4.96 55(100%) 0(0%) 0(0%) 4156.52
Sea Limited (NYSE: SE) 4.85 25(96.2%) 1(3.8%) 0(0%) 360.05
Vaxart Inc (NASDAQ: VXRT) 4.5 3(75%) 1(25%) 0(0%) 12.5
Advanced Micro Devices (NASDAQ: AMD) 4.05 25(58.1%) 16(37.2%) 2(4.7%) 111.77
Ocugen Inc (NASDAQ: OCGN) 3.8 2(40%) 3(60%) 0(0%) 7.28
Robinhood Markets (NASDAQ: HOOD) 3.79 7(50%) 6(42.9%) 1(7.1%) 54.08
QuantumScape (NYSE: QS) 3.29 2(28.6%) 4(57.1%) 1(14.3%) 36.33
Palantir Technologies(NYSE: PLTR) 2.75 2(25%) 3(37.5%) 3(37.5%) 24.67
AMC Entertainment Holdings Inc (NYSE: AMC) 1.89 0(0%) 4(44.4%) 5(55.6%) 5.44
Naked Brand Group (NASDAQ: NAKD)

 

To round up

In general, investors are advised to be cautious with meme stocks as they are fundamentally overpriced. Compared to meme stocks, growth stocks such as AMZN.US still have some slack to the Bloomberg analysts’ target prices. Based on the recent Jackson Hole Symposium, monetary policy should not tighten so soon. As such, the interest-rate-sensitive tech sector should continue to grow. Non-farm payroll data came in worse than expected, at 235,000 in September 2021 vs expectations of 720,000. This justifies the Fed’s view that more work has to be done on the employment side before scaling back on monetary policy.

The next major market event is the FOMC meeting on 21-22 September. The meeting may provide better clarity on US monetary policy. Markets are expected to be relatively muted before that.

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Reference:

Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Facebook Inc. US:FB (Bullish)

 

Facebook Inc (US: FB) upside has been ongoing strong especially after achieving two of our target price based on our report dated 7th May. Wave analysis suggest that the larger wave ((3)) of the primary phase is still ongoing and currently only the sub-wave (1) of the intermediate phase is completed. Despite we are in a potential sub-3 wave ABC corrective wave, technical shows a strong contention of a bullish upside to complete the 2nd leg of wave B.

 

  1. Bullish engulfing candle is seen rebounding away from support zone 1 and closing right above the lower Bollinger band.
  2. The relative strength index is rebounding away from the oversold level and should it cross above the 40 line, there is a confirmation of the upside.

 

 

*Expected timeline of the trade is 5 weeks from the date of report issuance.

 

CHART LEGEND

 

Bollinger Bands

Standard deviation = 2

Red dotted line = Upper Bollinger Band

Blue dotted line = 20 Periods MA

Green dotted line = Lower Bollinger Band

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 


Technical Analysis Nike Inc. US:NKE (Bullish)

Nike Inc (US: NKE) has completed the impulse wave (5) cycle of the intermediate phase and current downside move is potentially on wave (A). Based on the technical, the upside will resume to complete the 2nd leg of wave (B).:

 

  1. There is a bullish pin-bar formation at the immediate support zone, which is seen as a potential bottom after a gapped up in June 2021.
  2. RSI have dipped into the oversold level and is trending at 21.10 RSI number. Should the upside confirms the bullish pin bar today, then RSI will turned up and resume back to the 40 line.
  3. Despite trending below the 63 and 22-MA, prices remain elevated above 200-MA.

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 Periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 Periods MA

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis FedEx Corp US:FDX (Bullish)

FedEx Corp (US: FDX) has completed the impulse wave (5) cycle of the intermediate phase and it is close to complete the intermediate ABC 3-wave pattern. We expect a little more room to drop further but based on the technical, we expect a rebound coming soon:

 

  1. Prices forms a high wave candle yesterday above the support zone and it signal neutrality for now. But the technical cue it is giving is that selling momentum is weakening, especially RSI has shown bout of oversold level below 40 RSI line.
  2. The rebound will likely happen at the immediate turned support zone region at US$233.06-US$246.15. Which also confluence with the 161.8% and 200.00% expansion level of wave (A)-(B). Hence, (C) wave is likely to be completed at that region.
  3. However, do take note that the immediate trend remain on a downtrend after bearish crossover has been spotted.

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 Periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 Periods MA

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Occidental Petroleum Corp US:OXY (Bullish)

 

 

Occidental Petroleum Corp (US: OXY) price action indicate a potential upside after rebounding successfully from the bottom of the range:

 

  1. The successful breakout of the Head and shoulder was confirmed by yesterday’s bullish candle above the neckline resistance at US$27.63.
  2. Furthermore, prices has successfully breakout the falling wedge formation.
  3. Back to the candlestick pattern, yesterday’s candle successfully close above the 63-periods moving average, indicating a possible bullish sustainance.

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 Periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 Periods MA

Click here to learn more about trading stocks in the US

Click here to open a POEMS trading account

Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis SPDR Dow Jones Industrial Average ETF US:DIA (Bullish)

SPDR Dow Jones Industrial Average ETF (US: DIA) price action and technical indicate a possible return to the upside testing the all-time high resistance:

 

  1. There is a potential bullish flag in place recently and this indicate a possible bullish continuation pattern.
  2. Tweezer bottom was formed yesterday with a minor RSI bullish divergence, an indication of a possible short-term upside.
  3. Looking at the RSI, it’s momentum has successfully sustain above 40 support line.
  4. Do take note that there still exist a bearish sell down further and should it break below US$344.00, then there is a chance it might goes to support zone 1.

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 Periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 Periods MA

Click here to learn more about trading stocks in the US

Click here to open a POEMS trading account

Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 


Technical Analysis iShares 20+ year Treasury Bond ETF US:TLT (Bullish)

iShares 20+ year Treasury Bond ETF (US: TLT) has rebounded steadily since May onwards where the strong upside has confirm that it is a sub-impulse 5-wave move. Further technical indicate that TLT will head for a new high:

 

  1. Current wave analysis indicate that sub-wave ((iv)) has been completed after prices rebounded strong on mid-August by comfirming a bullish morning star formation.
  2. Strong bullish breakout of the flag formation indicate more upside to come. Of course, if prices is able to break above US$152.14- US$152.71, then we would confirm a minute wave count of sub-wave iii of the larger wave ((v)).
  3. Target price level for wave ((v)) is at 161.8% extension level of the flag at US$157.09 and expansion level 200.00% of wave ((i))-((ii)) at US$157.52.
  4. Golden cross is observe and prices recently manage to sustain closure above the 22-period short-term moving average.

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 Periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 Periods MA

Click here to learn more about  trading stocks in the US

Click here to open a POEMS trading account

Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Peloton Interactive Inc US:PTON (Bullish)

Peloton Interactive Inc (US: PTON) inverted head and shoulder formation was invalidated based on our report dated on 3rd August but recent technical has shown some promises to the bullish upside :

 

  1. Since its break out from the larger falling wedge, Peloton has been ranging and testing the 50.0% Fibonacci retracement level of the falling wedge swing high to low. The multiple testing shows a weakening of the resistance.
  2. Morning star formation rebounded from the lower boundary of the Bollinger band and the key immediate support zone at US$97.98-US$102.48.
  3. Gap resistance zone must be broken to confirm the bullish upside, which the middle Bollinger band is confluencing with that zone.
  4. Stochastic Oscillator is showing potential oversold crosses.

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Bollinger Bands

Standard deviation = 2

Red dotted line = Upper Band

Blue dotted line = 20 Periods MA Band

Green dotted line = Lower Band

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Airbnb Inc US:ABNB (Bullish)

 

Airbnb Inc (US: ABNB) secondary downtrend has been invalidated after the stock breaks above the secondary downtrend line on July 2021. Technical shows that despite being in a ranging trend, price action indicate Airbnb will likely have a break to the upside:

 

  1. The formation of the larger double bottom above the major support zone at US$121.17-US$127.60 is likely close to an completion after a strong bullish candle on 24th August attempt to test the neckline resistance zone at US$156.25-US$161.96.
  2. Within the double bottom, there is an inverted head and shoulder formation which is also testing the same neckline resistance zone.
  3. Looking at the candlestick price action 25th August – 27th August, there was a bearish evening star formation but bullish rebound invalidated it. Added confirmation by breaking US$160.00 will further eliminate the threat of the bearish evening star candle.
  4. The 22 and 63-MA shown a bullish short term crossover, confirming the uptrend ahead.

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

CHART LEGEND

 

Moving Averages

Blue dotted line = 63 Periods MA

Green dotted line = 22 periods MA

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Equinix Inc US:EQUIX (Bullish)

Equinix Inc (US: EQUIX) upside is set to confirm after some consolidation at the all-time high resistance:

 

  1. The formation of the ascending triangle after 3-successive rebound from the resistance turned support zone at US$783.09-US$797.28.
  2. The resistance zone at US$824.98-US$839.77 has been weakened recently due to multiple testing.
  3. Monday’s bullish rebound above 63 and 22-MA is indicative of a strong bullish trend.
  4. Golden cross is still valid as prices remain well above all three major moving averages.
  5. Target prices are at 161.8% and 200% extension level of the previous cup and handle.

 

 

 

*Expected timeline of the trade is 15 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Averages

Red dotted line = 200 periods MA

Blue dotted line = 63 Periods MA

Green dotted line = 22 periods MA

Click here to learn more about trading stocks in the US

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis PayPal Holdings Inc US:PYPL (Bullish)

PayPal Holdings Inc (US: PYPL) has potentially resumed its sub-bullish wave based on the Elliott wave count and recent technical has indicate a possible bullish reversal in making:

 

  1. Since its break out from the larger ABC corrective wave of the pennant, which also mark the completion of wave ((2)) of the primary phase, the stock is now on the first intermediate phase of wave (1)-(2).
  2. Inverted head and shoulder formation is in the making and last Friday’s bullish tweezer pattern look alike indicate a strong possible bullish reversal.
  3. Despite trending below the 63-MA, PayPal bullish momentum make it seems that it is likely to break through above the 63-EMA.

 

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Averages

Red dotted line = 200 periods MA

Blue dotted line = 63 Periods MA

Click here to learn more about trading stocks in the US

Click here to open a POEMS trading account

Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Apple Inc – Super-cycle in price, margins and product

PSR Recommendation: BUYStatus: Initiation
Target Price: 187.00
  • Record iPhone sales expected in FY21e and FY22e, topping its 4G super-cycle in 2015. 5G push for iPhone upgrading.
  • Margins to stay elevated from fast-growing services and higher selling prices of new 5G products.
  • Initiate coverage with BUY recommendation and DCF target price (WACC 5.8%) of US$187.0.

 

Company Background

Apple’s revenue comes from the iPhone (50% of FY20 revenue), iPad (9%), Mac (10%), wearables, home and accessories (11%), and services (20%). Main markets are the Americas (45%), Europe (25%), Greater China (15%), Japan (8%), and the rest of Asia Pacific (7%).

Investment Merits

  1. 5G to drive record iPhone sales. Apple’s flagship 5G iPhone 12 line-up launched in 2020 sold 100mn units two months earlier than the iPhone 11. Volumes were close to its iPhone 6 super-cycle during the 4G transition in 2015. Customers see 5G as a key reason for upgrading their iPhones after years of holding back replacements. Apple’s new iPhone 13 line-up is expected to be launched in September 2021, featuring up to 20% more efficiency and larger batteries to complement the power-hungry 5G phone. In anticipation of strong demand, Apple has ordered more than 100mn A15 chips from TSMC for the launch, 25% more than the 75mn chips for its 2020 iPhones. We expect the iPhone super-cycle to continue, with FY21e and FY22e sales potentially topping 2015’s record of 231mn units sold. This would be powered by upgrades from an estimated 48% of the iPhone users still using iPhone X and older. iPhone sales are Apple’s main cash cow, at 50% of sales in FY20.
  2. Margins to remain elevated. Strong growth in Apple’s services is expected to lift gross margins, together with higher ASPs of 5G devices in the product segment. Service margins of 66% are more than double product margins. Service revenue has also been expanding at a faster CAGR of 17% vs flat growth for iPhone. Growth is spearheaded by Apple’s ever-growing installed base, which topped 1.65bn in January 2021. Apple expects service growth to moderate after a bumper 3Q21 – when YoY growth was 33% from the COVID-19 rebound – to more sustainable double digits. Apple’s 5G products also allow it to raise weighted ASPs by more than 20% from a year ago, boosting product margins. We expect gross margins to track above 40% in FY21e and FY22e, higher than their 5-year historical average of 38%.
  3. Gaining market share through supply-chain dominance. As competitors grapple with chip shortages, Apple’s share of global smartphone sales breached 5-year highs, hitting 21% in 4Q21. In the high-end market, Samsung was hit by its Texas semiconductor fabrication plant’s month-long power shut-down and Vietnam factory suspensions due to COVID-19. Samsung’s new Galaxy Note’s launch in 2H21 may be delayed as a result. Apple managed to mitigate shortages in 3QFY21, with the revenue impact coming in lower than its US$3-4bn guidance. Apple holds buying power over suppliers through scale purchases and upfront cash payments, leaving competitors handling price shocks and shortages created by Apple deals.

 

We initiate coverage with a BUY rating. Our target price is US$187.0, based on DCF valuation with a WACC of 5.8% and terminal growth of 3.0%.

 

REVENUE

Apple has five revenue segments: iPhone (50% of sales), Mac (10%), iPad (9%), Wearables, Home and Accessories (11%), and Services (20%). The first four are grouped under products. Wearables, home and accessories consist of AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch and other Apple-branded and third-party accessories. Services are licensing, App Store, AppleCare, iCloud, Apple Music, Apple Pay and iTunes. Service revenue grew by a 17% CAGR from FY16 to FY20 to double from 9% to 20% of total revenue (Figure 3). iPhone revenue was flat in the same period but is expected to surge in FY21 and FY22.

 

EXPENSES

Cost of sales grew at a 5% CAGR from FY16 to FY20, in line with its revenue CAGR of 5%. Operating expenses include selling, general and administrative expenses (7% of sales) and research and development (7%). Over the past five years, SG&A consistently ranged at 6-7% of sales, while R&D grew from 5% to 7% of sales. Total operating expenses grew at a 8% CAGR.

MARGINS

Gross margins averaged 38% in the past five years. Margins for services averaged 61% in the past four years, almost double the product margins of 33%. We forecast elevated margins for both services and products for FY21 and FY22 on the back of higher ASPs of new 5G devices and a higher installed base for services boosting operating leverage. Normalisation of freight costs could jack up product margins further.

BALANCE SHEET

Assets: Fixed assets increased modestly by 36% in the past five years to US$37bn, roughly in line with revenue growth of 27% between FY16 to FY20. Fixed assets only comprised 8% of total assets as Apple outsources most of its manufacturing needs. Inventory grew 90% in the past five years to US$4bn, likely due to Apple’s wider range of product line-ups in recent years.

Liabilities: Net debt averaged US$19bn in the past five years. It was pared down to lower levels in FY19 and FY20 as fixed assets were flat in those years.

CASH-FLOW

Apple historically generates strong cash flows every year. Cash flow from operations in FY20 jumped 16% YoY to US$81bn from a strong iPhone 12 launch. Much of the cash was used for stock repurchases of US$72bn in that year. Meanwhile, capex averaged US$11bn in the last five years, largely stable.

 

BUSINESS MODEL

Apple designs, makes and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. Customers are primarily in the consumer, small and mid-sized business, education, enterprise and government markets. Apple sells its products and resells third-party products in most of its markets directly to customers through retail and online stores and a direct sales force. It also distributes indirectly through third-party cellular network carriers, wholesalers, retailers and resellers. FY20 net sales through direct and indirect distribution channels accounted for 34% and 66%, respectively, of total net sales. No single customer accounted for more than 10% of net sales in 2020, 2019 and 2018. Main markets are the Americas (45% of FY20 sales), Europe (25%), Greater China (15%), Japan (8%), and the rest of Asia Pacific (7%).

 

In the service segment, the main revenue contributor is the App Store, which takes in 30% of revenue from in-app purchases of games, app sales, and app subscriptions. Next is licensing, which includes payments from companies like Google to be featured on Apple products. Other services include AppleCare, which is Apple’s extended warranty service with a price range that depends on the product. iCloud generates revenue through subscription fees for use of cloud data. Apple Music also generates subscription fees as well as revenue from carrier partnerships. Apple Pay earns a percentage of transaction fees from users and banks. New to services and not yet meaningfully contributing are Apple TV, which earns subscription fees, and Apple Card, where Apple likely takes a cut of the interest charged by its partner bank.

 

INDUSTRY

The high-end smartphone market is predominantly served by Apple and Samsung. Huawei has fallen out of the ranks following U.S. sanctions. Apple’s share of global smartphone sales averaged 14% in the past three years, hitting a historical high of 21% in 4Q20 on the back of the iPhone 12 launch (Figure 8). The International Data Corporation (IDC) expects the global smartphone market to grow at a 3.6% CAGR over 2020-2025 (Figure 6). Apple’s key markets, China (18% of sales) and the US (45%), are forecast to grow 6.0% and 3.5% respectively.

 

Despite tepid market growth, Apple can rely on its consistently growing ecosystem of installed users to outperform the market. The iPhone’s installed base breached 1bn in 2020 (Figure 9), growing by a stronger 5-year CAGR of 7% than the pre-pandemic smartphone sales CAGR of 2%. Most iPhones are sold to upgraders in its installed base (Figure 7).

Risks

  1. Antitrust laws could affect service revenue. Apple could lower its App Store fees for larger developers as a result of lawsuits. Apple last year lowered its fee to 15% for smaller developers making less than US$1mn per year from their apps. But App Store revenue is largely driven by its larger developer base, contributing 30% fees.

 

  1. China’s gaming crackdown could hit App Store spending. China’s gaming revenue contributed an estimated US$2bn or 13% to App Store revenue in FY19. That said, even if China’s gaming crackdown intensifies, we believe the impact will be minimal as China’s gaming revenue translated to less than 1% of FY19 revenue.

 

Chip supply shortage. Apple guided for a US$3-4bn of impact from chip shortages earlier this year. This will affect iPhone and iPad sales in the coming quarter. There is a risk of the impact coming in at the higher end of the range.

Valuation

We initiate coverage on Apple Inc with a BUY recommendation. We have a DCF valuation of US$187.0, based on a WACC of 5.8% and terminal growth rate of 3.0%.

 

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Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
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This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Moderna Inc. US:MRNA (Bulllish)

 

Moderna Inc (US: MRNA) strong rally since July has been explosive and despite some selling from the psychological resistance of US$500.00, the trend remain strongly on the bullish side based on the technicals:

 

  1. The sell-off was halted when a bullish pin-bar formed at the support zone at US$341.04-US$362.56. The hammer was further confirmed by the bullish Marobozu that was formed on Tuesday.
  2. To add on, the bullish hammer was supported by the Kijun-sen. Although prices still need to clear above the tankan-sen resistance at US$423.24, the probability of it clearing above Tenkan-Sen is high due to strong bullish momentum.
  3. Senkou-Span A is sloping up and the lagging span distance away from the candle indicate a strong bullish signal.
  4. However, crucial resistance zone at 78.6% and 61.8% Fibonacci level needs to be broken to confirm the upside, otherwise, a potential head and shoulder formation will be formed and it will signify a possible bearish reversal.

 

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
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To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Wells Fargo & Co US:WFC (Bullish)

 

Wells Fargo & Co (US: WFC) Rally is expected to resume after the initial breakout of the pennant formation. Following technicals indicate that further upside:

 

  1. Despite breaking away from the uptrend line in June 2021, there isn’t any series of lower lows and highs. Instead, it converges into a pennant formation which is indicative of a bullish continuation pattern.
  2. The resistance zone over at US$46.70-US$48.13 has been tested multiple times and hence, the zone is weakened, and it may give way to break up further.
  3. The bullish cross over in January 2021 remains intact as prices have recently consolidated and stayed above the 63 and 200-period MA.
  4. Should the consolidated candles break and close above the uptrend line, then the uptrend is set to continue.

 

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 period MA

Blue dotted line = 63 period MA

Green dotted line = 22 period MA

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Walt Disney Co/The US:DIS (Bullish)

 

 

Walt Disney Co/The (US: DIS) The upside is set to resume after the initial breakout of the larger bullish flag. Recent technical and price action indicate the upside rebound is around the corner:

 

  1. The morning star candlestick formation rebounded from the immediate support zone of 171.20-174.42 confluence with the 61.8%-78.6% Fibonacci retracement of the range box.
  2. The morning star formation also rebounded from the lower bound of the Bollinger band, signify a strong bullish upside ahead.
  3. The smaller falling wedge within the range box is a bullish continuation pattern. Prices should preferably break above US$187.40 expansion target of US$169.89 to US$186.29 and US$171.20.
  4. MACD indicator is having a high potential of bullish crossing over above the 0 line.

 

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = Upper Bollinger Band

Blue dotted line = 22 Period MA

Green dotted line = Lower Bollinger Band

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Apple Inc US:APPL (Bullish)

Apple Inc (US: APPL) has made a new high on 15th July and despite some consolidation, recent technical and price action indicate that price is likely to continue higher once key resistance zones are broken:

 

  1. The consolidative price action has formed into a bullish pennant, which is a strong bullish continuation pattern.
  2. Tuesday’s bullish candle has successfully close above the US$145.00 psychological support. To add on, the bullish candle has also close above the Tenkan-Sen.
  3. Overall, the ichimoku is showing uptrend still, especially the thickening of the kumo cloud after a bullish kumo twist happens on the 30th of July.

 

 

*Expected timeline of the trade is 14 weeks from the date of report issuance.

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 9 Periods Tenkan-Sen

Blue dotted line = 26 periods Kijun-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Peloton Interactive Inc US:PTON (Bullish)

Peloton Interactive Inc (US: PTON) Initial upside is confirmed after prices broke out of the larger falling wedge and prices has also made a series of higher high and higher low. Recent technical has also indicate further upside:

 

  1. Peloton Interactive has formed a larger inverted head and shoulder and is pending to break above the neckline resistance zone at US$122.60-US$126.73.
  2. On the right shoulder, Peloton has formed a bullish flag after it rebounded from the immediate support zone at US$110.183 region.
  3. The bullish crossover of the 22 and 63 period Moving average is another confirmation signal that the bullish upside is intact. Especially prices close right at the 200 and 22-period moving average.
  4. RSI rebounded at the mean reversion line at 50. Citing a negative failure swing.

 

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 periods MA

Blue dotted line = 63 periods MA

Green dotted line = 22 periods MA

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Disclaimer
Important Information: This report is prepared and/or distributed by Phillip Securities Research Pte Ltd (“Phillip Securities Research”), which is a holder of a financial adviser’s licence under the Financial Advisers Act, Chapter 110 in Singapore.
By receiving or reading this report, you agree to be bound by the terms and limitations set out below. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.
The information and any analysis, forecasts, projections, expectations and opinions (collectively, the “Research”) contained in this report has been obtained from public sources which Phillip Securities Research believes to be reliable. However, Phillip Securities Research does not make any representation or warranty, express or implied that such information or Research is accurate, complete or appropriate or should be relied upon as such. Any such information or Research contained in this report is subject to change, and Phillip Securities Research shall not have any responsibility to maintain or update the information or Research made available or to supply any corrections, updates or releases in connection therewith.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this report are as of the date indicated and are subject to change at any time without prior notice. Past performance of any product referred to in this report is not indicative of future results.
This report does not constitute, and should not be used as a substitute for, tax, legal or investment advice. This report should not be relied upon exclusively or as authoritative, without further being subject to the recipient’s own independent verification and exercise of judgement. The fact that this report has been made available constitutes neither a recommendation to enter into a particular transaction, nor a representation that any product described in this report is suitable or appropriate for the recipient. Recipients should be aware that many of the products, which may be described in this report involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made, unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of any product. Any decision to purchase any product mentioned in this report should take into account existing public information, including any registered prospectus in respect of such product.
Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may provide an array of financial services to a large number of corporations in Singapore and worldwide, including but not limited to commercial / investment banking activities (including sponsorship, financial advisory or underwriting activities), brokerage or securities trading activities. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have participated in or invested in transactions with the issuer(s) of the securities mentioned in this report, and may have performed services for or solicited business from such issuers. Additionally, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may have provided advice or investment services to such companies and investments or related investments, as may be mentioned in this report.
Phillip Securities Research or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report may, from time to time maintain a long or short position in securities referred to herein, or in related futures or options, purchase or sell, make a market in, or engage in any other transaction involving such securities, and earn brokerage or other compensation in respect of the foregoing. Investments will be denominated in various currencies including US dollars and Euro and thus will be subject to any fluctuation in exchange rates between US dollars and Euro or foreign currencies and the currency of your own jurisdiction. Such fluctuations may have an adverse effect on the value, price or income return of the investment.
To the extent permitted by law, Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may at any time engage in any of the above activities as set out above or otherwise hold an interest, whether material or not, in respect of companies and investments or related investments, which may be mentioned in this report. Accordingly, information may be available to Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, which is not reflected in this report, and Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited to its officers, directors, employees or persons involved in the issuance of this report, may, to the extent permitted by law, have acted upon or used the information prior to or immediately following its publication. Phillip Securities Research, or persons associated with or connected to Phillip Securities Research, including but not limited its officers, directors, employees or persons involved in the issuance of this report, may have issued other material that is inconsistent with, or reach different conclusions from, the contents of this report.
The information, tools and material presented herein are not directed, intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution, publication, availability or use would be contrary to the applicable law or regulation or which would subject Phillip Securities Research to any registration or licensing or other requirement, or penalty for contravention of such requirements within such jurisdiction.
This report is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this report may not be suitable for all investors and a person receiving or reading this report should seek advice from a professional and financial adviser regarding the legal, business, financial, tax and other aspects including the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This report is not intended for distribution, publication to or use by any person in any jurisdiction outside of Singapore or any other jurisdiction as Phillip Securities Research may determine in its absolute discretion.
IMPORTANT DISCLOSURES FOR INCLUDED RESEARCH ANALYSES OR REPORTS OF FOREIGN RESEARCH HOUSES Where the report contains research analyses or reports from a foreign research house, please note: (i) recipients of the analyses or reports are to contact Phillip Securities Research (and not the relevant foreign research house) in Singapore at 250 North Bridge Road, #06-00 Raffles City Tower, Singapore 179101, telephone number +65 6533 6001, in respect of any matters arising from, or in connection with, the analyses or reports; and (ii) to the extent that the analyses or reports are delivered to and intended to be received by any person in Singapore who is not an accredited investor, expert investor or institutional investor, Phillip Securities Research accepts legal responsibility for the contents of the analyses or reports.

If Distribution is to Australian Investors This report is produced by Phillip Securities Pte Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Past performance is not a reliable indicator of future performance. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Top Traded US Stocks on POEMS in June 2021

Top Traded US Stocks on POEMS in June 2021

The following list some of the top traded US stocks, not in any order of ranking, by our POEMS clients along with major news announced on the stocks in the month of June.

At a glance:

  • The month of June was volatile for all three major indices following the release of higher-than-estimated ADP non-farm payrolls, which shows data collected from private enterprises, FOMC statements and the Fed Funds rate, all of which spooked inflation fears. All three major indices dipped in the first half of the month before recovering in the second half.
  • Fed Funds rates are unchanged but there has been a shift in the Fed’s economic projections. The Fed now indicates not one but two interest-rate hikes in 2023.
  • Bears also beat a dramatic retreat1 on the back of a consistent strong economic recovery.

The three US major indices – Dow Jones, S&P 500 and Nasdaq Composite – retreated in the first half of the month. The Dow dropped by 3.79% from 34,584.19 points to a low of 33,271.93 points, the S&P 500 shed 1.24% from 4,216.52 to 4,164.40 while Nasdaq Composite gave up 2.03% from 13,829.06 to a low of 13,548.93. The declines were spooked by tapering fears caused by inflation, when ADP non-farm jobs rose 978K, 51.63% better than the estimate of 645K at the start of the month of June. However, the fears diminished when the non-farm employment change was released 2 days later after the release of ADP non-farm payroll, a change at 559K, 13.33% below the estimate of 645K.

Towards the middle of the month, the Fed kept its Fed Funds rate unchanged at 0.25%. However, the FOMC projects that there will be two rate hikes in 2023 after possible tapering. Following an initial knee-jerk reaction, all three major indices managed to recover.

The Dow closed at 34,502.52, S&P 500 at 4,343.53 and Nasdaq Composite at 14,503.95 – a recovery of 3.70%, 3.20% and 7.05% respectively from their month lows. This could be due to the Fed’s indication that it will maintain its easy monetary policy for now. Tapering may also be out of the picture in the short term as the FOMC meeting remained inconclusive on this.

We have included technical charts for all the 10 counters. Charts are analysed on different time frames. The charts are for your information only and the support and resistance levels discussed are solely based on our dealers’ views. The technical charts should not be constituted as buy or sell recommendations and investors/traders are advised to do their own due diligence before making any trade.

Here are some of June’s top traded US stocks on Phillip’s Online Electronic Mart System (POEMS), based on gross market value traded.

Coinbase Global Inc (NASDAQ: COIN)

Coinbase went from an astonishing opening price of US$304 to a closing price of US$236.54, a 22.19% drop in the month of May. This followed an announcement by Elon Musk, an outspoken supporter of bitcoins who have invested US$1.5bn in the cryptocurrency2, that Tesla (NASDAQ: TSLA) was no longer accepting bitcoins as payment. He reasoned that mining bitcoins is too harsh on the environment3. Shortly after, he reversed his position and said Tesla would accept bitcoin payments again once mining becomes more energy-efficient4. In June, COIN hovered between US$210 and US$250. Its drop mirrored the market’s overall consolidation due to uncertainties over the big dropped in May5.

There might be potential for COIN to rally again on the back of approval to offer crypto custody services in Germany. This might allow COIN to expand its market to generate more sales. Together with MicroStrategy (MSTR.US) who added US$489mn of bitcoins to its balance sheet,6 the stocks of companies like COIN which deal with cryptocurrencies may be supported.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Neutral

Support: US$208.00-212.00

Resistance: US$248.25-252.10

Range-bound

Citigroup (NYSE: C)

Citi started dropping from a high of US$80.29 in June. This could be due to its resistance level at the price of US$80, as seen in 2018 and 2020. Citi dropped from that price as investors might have decided to take profits.

Later in the month, it dwindled further to US$67.13, down 16.39% from its high. This was after a warning from Mark Mason, Chief Financial Officer, that trading revenues may disappoint in Q2 2021 as trading activities moderated.7

However, Citi managed to rebound to close at US$70.89, a 5.6% increase from its low as the Fed allowed banks to resume dividends and shares buyback previously restricted during the COVID-19 pandemic.8 The news gave investors cheer on the whole financial sector.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Neutral

Support: US$67.13-67.61

Resistance: US$71.32-71.60

Range-bound.

Click here to see a recent technical analysis of Citigroup

Plug Power Inc (NASDAQ: PLUG)

PLUG managed to touch US$36.04 on 30 June 2021, up 17.04% from an opening price of US$31.10. This might be credited to a report on the fuel-cell market, which projects that the market will reach US$14.6bn by 20279, up 5,451% from 2020. The USD$263million estimated market size10 may have encouraged investors to look at fuel-cell companies like PLUG.

Later in the month, news that the US has returned to the Paris Climate Agreement and the Biden administration’s push for greener energy infrastructure led to interest in hydrogen fuel-cell companies like PLUG.11 US support for the Paris Agreement is crucial, as the US is one of the top carbon emitters globally. Hydrogen fuel cells are part of clean energy and investors are hoping that PLUG may benefit from a potential increase in business and earnings.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Neutral

Support: US$28.88-29.05

Resistance: US$34.67-35.20

Range-bound

Clean Energy Fuels Corp (NASDAQ: CLNE)

In the same industry as PLUG is Clean Energy. Clean should benefit from the report on the fuel-cell sector as well, that global sales could rise to US$14.6bn by 2027.12 Clean Energy’s shares were up 27.03% from their opening price of US$7.99 to close at US$10.15.

Clean’s prospects have brightened on the back of a 5-year agreement it just signed with Amazon to provide renewable natural gas. The second piece of good news is Chevron’s US$20mn investment in the company.13 Both the companies are big boys in their industries and the partnerships are expected generate more revenue for Clean to fund its expansion.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Technical Sell below US$10.30

Support: US$7.48-7.87

Resistance: US$10.29-10.52

Bearish market structure

Xpeng Inc (NYSE: XPEV)

Xpeng rallied 31.81% from its opening price of US$33.70 to US$44.42 in June. This followed its announcement that it delivered 13,340 vehicles in Q1 2021, a 487% jump from the previous year’s 2,27114, fuelling confidence in Xpeng’s outlook.

Its President, Brian Gu, was also positive that Q2 sales could exceed the company’s delivery targets as demand for Chinese EVs remains strong.15 To support its growth ambitions, Xpeng raised US$1.8bn from a Hong Kong dual primary listing recently. It started trading on 7 July 2021. The funds raised could potentially be used a war chest for further growth. Its dual listings mean Xpeng can raise funds both on the HKEX and NYSE.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Neutral

Support: US$39.65-40.20

Resistance: US$45.23-45.75

Range-bound

Sundial Growers Inc. (NASDAQ: SNDL)

Sundial is a legal cultivator and distributor of cannabis in Canada. It came into the spotlight this month thanks to Reddit. The stock opened at US$1.03, before a short squeeze pushed it up to US$$1.49. It closed the month at US$$0.94.

For the first time, Sundial managed to report a positive adjusted EBITDA in Q2. This marked an important corporate milestone. The profits came from streamlining its business and cutting costs.

However, the declines in its gross revenue over the quarters are worrying. Sundial may be losing market share as it has slashed its sales and marketing costs by nearly half. Another risk is the recent change in its products19. It has changed its core business from selling marijuana to cannabis. Moving forward, Sundial will need to figure out ways to establish its foothold in the new market.

Although Sundial’s consumers are mainly based in Canada, it is widely expected to expand to the US. There is growing support for cannabis legalisation at the federal-government level in the US.2021 This brings hope that there will opportunities for growth in the cannabis industry.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Technical Sell below US$1.00

Support: US$0.823-0.845

Resistance: US$1.00-1.04

Range-bound

Tilray Inc. (NASDAQ: TLRY)

Another weed company made popular by Reddit is Tilray. Its share price was driven up at the beginning of June to a high of US$23.04. Between opening at US$17.13 and closing at US$18.08, Tilray yielded a gain of around 5.5%.

Tilray recently merged with another pot company to form the world’s largest weed company by revenue.22 Similar to Sundial, Tilray has benefited from budding support for legalising cannabis in the US. Legalisation means more sales.

As the merger was recent, there is not much data to prove if it is actually beneficial. However, the merger did give birth to a new medical cannabis brand, Symbios23. This new product line is aimed at providing a more comprehensive line of products to medical patients. With a growing cannabis market24 and the new line of product, Tilray is worth keeping an eye on.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Technical Sell below US$16.68

Support: US$14.85-15.02

Resistance: US$16.69-16.98

Bearish movement into immediate support

Fuelcell Energy Inc. (NASDAQ: FCEL)

Fuelcell Energy develops fuel cells for use as alternative fuel. In June, the stock surged to a high of US$$12.62 before crashing to US$8.43. The fall could be blamed on a surprise dip in its Q2 revenue25. The market was expecting a loss per share of 5 cents but Fuelcell’s loss came in at 6 cents.

Nonetheless, alternative fuels are gaining traction as ESG grows in importance26. Clean energy will be highly sought after as firms look for ways to reduce carbon footprints. President Biden’s aim to cut greenhouse gas pollution by 203027 should further stimulate the industry.

The risk now lies in Fuelcell’s ability to sustain its business. Current infrastructure works on traditional fossil fuels. Converting and upgrading infrastructure that runs on clean energy require resources and years of development. Investors are likely to question if Fuelcell is able to tide through till the mass adoption of alternative fuels.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Technical Buy above US$8.00

Support: US$7.82-8.03

Resistance: US$9.29-9.43

As long as its immediate support holds, share price could be range-bound towards its immediate resistance above.

Torchlight Energy Resources. (NASDAQ: MMAT)

Torchlight Energy (TRCH) merged with Meta Materials (MMAT) on 26 June 2021. TRCH will undertake a reverse stock split of 1 for 2, followed by a change in its corporate name and stock ticker28. From 28 June 2021, the company will trade under the name of Meta Materials Inc.

Torchlight is another popular meme stock that had a roller-coaster month. Its lowest point in June was at US$5.80, after the stock hit a high of US$21.70. Investing in meme stocks entails high risk as their share prices may rise and fall equally quickly.

After the merger, management intends to move away from oil and gas to developing high-performance functional materials and nanocomposites29. Nanotechnology is the next new thing, with its global market expected to reach US$70.7bn by 202630. Nanomaterials can be used in multiple industries, including construction, healthcare and agriculture31. This implies substantial growth potential. Downside lies with research and development capabilities. Torchlight risks lagging the other firms if its R&D is weak. However, looking at the 64 pending global patents it has filed for, its R&D capability should not be much of a concern.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Technical Sell below US$6.30

Support: US$4.32-4.79

Resistance: US$7.76-7.96

Bullish market structure into support, more potential down moves once below

ORPHAZYME – ADR (NASDAQ: ORPH)

Orphazyme was one of the more volatile stocks in our list. Wall Street Bets subscribers led a short squeeze on the stock in June, fuelling a surge to a 52-week high of US$$77 on 10 June 2021. Like most meme stocks after the squeeze, Orphazyme crashed to around US$10 over the next few days.

On 15 June 2021, one of Orphazyme’s major shareholders liquidated his shares. This gave rise to hopes of a potential merger32 and its shares broke out of their US$10 range.

Gains from the rumours were soon erased by the US Food and Drug Administration’s (FDA) rejection of Orphazyme’s key drug candidate for a metabolic disease, Niemann Pick C.33. With no other projects to back its prospects, Orphazyme had to cut its revenue forecasts.

Investing in biopharmaceutical firms entails a considerable level of risk. In the sector, failure rates on inventions are 85-95%34. Risks are compensated if the drugs take off, in which case investments can possibly grow 200-300% in a single day. Investors are advised to assess their risk appetites before investing in such stocks.

Top Traded US Stocks on POEMS in June 2021

Technical Analysis:

Status: Technical Buy above US$7.35

Support: US$5.84-6.00

Resistance: US$7.22-7.35

Range-bound

References:

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1. http://www.marctomarket.com/2021/06/fed-pushes-on-open-door-and-dollars.html

2. https://www.cnbc.com/2021/02/08/tesla-buys-1point5-billion-in-bitcoin.html

3. https://www.cnbc.com/2021/05/19/the-crypto-collapse-heres-whats-behind-bitcoins-sudden-drop.html

4. https://www.businessinsider.com/elon-musk-bitcoin-tesla-payment-green-energy-environment-2021-6#:~

5. https://www.moneycontrol.com/news/business/cryptocurrency/cryptocurrency-coinbase-shares-hovering-around-222-mark-near-all-time-low-7075011.html

6. https://www.fool.com/investing/2021/06/28/why-shares-of-coinbase-microstrategy-grayscale-and/

7. https://www.zacks.com/stock/news/1723186/citigroup-c-shares-down-on-soft-q2-trading-revenue-outlook

8. https://finance.yahoo.com/video/dividends-buybacks-back-track-132745353.html

9. https://www.fool.com/investing/2021/05/26/why-clean-energy-stocks-are-up-today/

10. https://www.marketsandmarkets.com/Market-Reports/fuel-cell-market-348.html

11. https://www.investors.com/news/plug-stock-plug-power-earnings-q1-2021/

12. https://www.fool.com/investing/2021/05/26/why-clean-energy-stocks-are-up-today/

13. https://www.fool.com/investing/2021/06/11/clean-energy-fuels-buy-at-the-high/

14. https://finance.yahoo.com/news/xpeng-quarterly-revenue-jumps-6x-120718701.html

15. https://finance.yahoo.com/news/xpeng-expects-meet-beat-sales-005654863.html

19. https://www.fool.com/investing/2021/06/26/5-heavily-short-sold-stocks-avoid-like-the-plague/

20. https://www.forbes.com/sites/roberthoban/2021/06/13/amazons-support-for-marijuana-is-the-missing-link-for-legalization/

21. https://www.cnbc.com/2021/06/28/supreme-court-justice-clarence-thomas-says-federal-marijuana-laws-may-be-outdated-.html

22. https://www.marketwatch.com/story/tilray-and-aphria-merger-closes-and-creates-worlds-biggest-weed-company-by-revenue-11620064759

23. https://www.businesswire.com/news/home/20210608005394/en/Tilray-Announces-Launch-of-New-Medical-Cannabis-Brand-Symbios

24. https://www.businesswire.com/news/home/20210608005394/en/Tilray-Announces-Launch-of-New-Medical-Cannabis-Brand-Symbios

25. https://www.investors.com/news/fcel-stock-fuelcell-energy-earnings-q2-2021/

26. https://www.bloomberg.com/news/articles/2021-02-10/the-490-billion-boom-in-esg-shows-no-signs-of-slowing-green-insight

27. https://www.whitehouse.gov/briefing-room/statements-releases/2021/04/22/fact-sheet-president-biden-sets-2030-greenhouse-gas-pollution-reduction-target-aimed-at-creating-good-paying-union-jobs-and-securing-u-s-leadership-on-clean-energy-technologies/

28. https://www.nasdaqtrader.com/TraderNews.aspx?id=ECA2021-118

29. https://irdirect.net/prviewer/release_only/id/4763528

30. https://www.globenewswire.com/news-release/2021/06/23/2251603/0/en/Global-Nanotechnology-Market-to-Reach-70-7-Billion-by-2026.html

31. https://blog.agchemigroup.eu/the-risks-and-rewards-of-investing-in-nanotechnology/

32. https://www.fool.com/investing/2021/06/16/heres-why-orphazyme-shares-rocketed-higher-on-wedn/

33. https://www.reuters.com/business/healthcare-pharmaceuticals/orphazyme-revises-annual-outlook-after-fda-review-2021-06-18/

34. https://neweuropeaneconomy.com/energy/biotech-investment-returns-risks-and-research/

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Technical Analysis Citigroup Inc. US:C (Bullish)

Citigroup Inc (US: C) Downside sub-corrective is heading for a reversal after recent technical indicate a potential upside. However, we believe that the larger correction is not yet over:

 

  1. Citigroup has briefly broken out of the falling wedge formation yesterday, which is a good indication of more bullish upside to come.
  2. The smaller inverted head and shoulder formation is preparing to stage a breakout to the upside. If US$70.00 able to break, we could see a stronger upside confirmation.
  3. The RSI is showing double bullish divergence; hence we are able to see a strong upside.
  4. Although prices are trending below the 63-period moving average, the above-mentioned price action indicate that there is a high probability of reverting to its mean at 63-period.

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

CHART LEGEND

 

Moving Average

Red dotted line = 200 periods MA

Blue dotted line = 63 periods MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
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Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
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If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Hasbro Inc. US:HAS (Bullish)

Hasbro Inc (US: HAS) upside is set to continue after wave and technical indicate that the upside is yet to complete:

 

  1. The Elliott wave count suggest that after completing wave (1) of the leading diagonal wave and wave (2) of the symmetrical triangle, the upside for wave (3) is set to continue after a strong bullish gap up and close above the resistance zone of 98.05-101.29. Indicating the resumption of the uptrend.
  2. The inside bar on Tuesday is a sign of consolidation and should it break above the US$105.00 psychological resistance level, it will confirm the upside.
  3. Monday’s strong gap up above the 63 and 22-day exponential moving average indicate short and mid-term resumption of the upside.
  4. By breaking US$109.66 resistance level, there will be added confirmation to the bullish upside.

*Expected timeline of the trade is 12 weeks from the date of report issuance.

 

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 periods MA

Blue dotted line = 63 periods MA

Green dotted line = 22 periods MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
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Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 


Technical Analysis Crowdstrike Holdings Inc. US:CRWD (Bullish)

 

Crowdstrike Holdings Inc. (US: CRWD) upside is set to continue after wave and technical indicate that the upside is yet to complete:

 

  1. The Elliott wave count suggest that current upside is the last leg of the primary phase of wave ((5)). If we dive into the sub wave count of wave ((5)), wave ((iii) has yet to complete and given the price action, it is likely that wave ((iii)) will be a sub-extended wave.
  2. The inside bar formation indicate that the stock is heading for a bullish breakout after yesterday’s intraday consolidation. Should the crucial resistance zone fail to break, there is a potential correction till support zone 1 before resuming a rebound.
  3. Prices are trending above all three major moving averages and looking closely, the diverging distance from the 200 MA to 63 MA and subsequent 22 MA is enlarging. Hence, it is a strong indication of a bullish trend ahead.

 

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 periods MA

Blue dotted line = 63 periods MA

Green dotted line = 22 periods MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.

 


Technical Analysis SPDR Dow Jones Industrial Average ETF US:DIA (Bullish)

SPDR Dow Jones Industrial Average ETF (US: DIA) upside has been trapped within a consolidative range since May when it reached a high at US$351.17. The corrective bullish flag has come to an end after the sub-double three corrective wave has ended with a break above the bulling flag. Further technical price action has shown potential further upside:

 

  1. Despite a throwback correction after prices fails to break above the resistance zone, the rebound near the US$340.00 region at support zone 1 has proven to be successful. Furthermore, the resistance zone has been weakened after prices tested the zone multiple times.
  2. Looking from the Elliott wave perspective, the larger sub-wave (3) of the intermediate phase has yet to complete. Also, should there be a correction down, prices are likely to stay supported above support zone 1. Should it break, it will invalidate the whole wave count.
  3. Prices manage to stay elevated above the mid-term and short-term moving average. Indicating bullish signs of strength.

*Expected timeline of the trade is 12 weeks from the date of report issuance.

CHART LEGEND

 

Moving Average

Blue dotted line = 63 periods MA

Green dotted line = 22 periods MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Robinhood IPO on NASDAQ – HOOD:NASD

Robinhood was one of the first commission free trading platforms in the world, not just on stocks, but also options and cryptocurrency. Causing competitors such as Fidelity, E-Trade and Charles Schwab to do the same. This, coupled with no minimum investment, Robinhood seem to be achieving their goal of making investing easy and accessible to everyone, with their target customer base being millenials and gen z users new to investing.

You may be wondering how Robinhood makes any money with $0 commission fee. The answer to this is through order flow payment. Robinhood receives orders from its client base, and then sells these orders to market makers for a small price. Due to the large amount of orders Robinhood receive, this accounts for a substantial amount of their revenue. Order flow payments increased 339.6% in the first quarter of financial year 2021, accounting for more and 80% of company revenue.

Key Statistics

  • 340,000 users at inception, has now grown to 18 million
  • 32969% increase in revenue 2015-2020
  • Pre IPO, has been valued at US$20 billion

They are now looking to shake up wall street with an IPO on the 28th July. With a target valuation of US$35 billion, this is one of the most highly anticipated stock listings of the year.

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Disclaimer

This publication has been prepared solely for the information of the particular person to whom it was supplied by Phillip Capital Limited (“PhillipCapital”) AFSL 246827. This publication contains general securities advice. In preparing the advice, PhillipCapital has not taken into account the investment objectives, financial situation and particular needs of any particular person. Before making an investment decision on the basis of this advice, you need to consider, with or without the assistance of a securities adviser, whether the advice in this publication is appropriate in light of your particular investment needs, objectives and financial situation. PhillipCapital and its associates within the meaning of the Corporations Act may hold securities in the companies referred to in this publication. PhillipCapital believes that the advice and information herein is accurate and reliable, but no warranties of accuracy, reliability or completeness are given (except insofar as liability under any structure cannot be excluded). No responsibility for any errors or omissions or any negligence is accepted by PhillipCapital or any of its directors, employees or agents. This publication must not be distributed to retail investors outside of Australia.


Technical Analysis Procter & Gamble Co/The US:PG (Bullish)

Procter & Gamble (US: PG) consolidative phase is getting ready to breakout to the upside after recent technical price action signals:

 

  1. The rebound in late February and early March 2021 has formed a rounding bottom, a clear signal of an early bullish rebound gaining momentum.
  2. The larger ascending triangle is likely to breakout further as the resistance top at US$137.60-US$139.21 has been tested multiple times, thereby weaken the zone.
  3. The falling wedge within (Pink dashed line) has been confirmed after prices breaks out from it. Confirming the initial phase of the cup and handle formation.
  4. Moving average has shown that the short term bullish cross over remain intact as prices is still well supported by the 22 and 50-day moving average.
  5. MACD has crossed above the 0 line, indicating a bullish signal.

 

 

*Expected timeline of the trade is 12 weeks from the date of report issuance.

*Should price reject the resistance zone with a strong bearish candle over the next two, then there is a possibility of a bearish hikkake formation.

 

CHART LEGEND

 

Moving Average

Blue dotted line = 50 periods MA

Green dotted line = 22 periods MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis AbbVie Inc. US:ABBV (Bullish)

AbbVie Inc (US: ABBV) Upside is set to go further after recent price action and technical indicate further upside:

 

  1. AbbVie Inc has confirmed by breaking above the pennant formation (Dotted line)
  2. Larger ascending triangle is eyeing for a breakout above the resistance zone at 117.11-118.38.
  3. Prices are trending above the 50 and 200-day major moving average.

 

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

Red dotted line = 200 periods MA

Blue dotted line = 50 periods MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis McDonald’s Corp US:MCD (Bullish)

McDonald’s Corp (US: MCD) has made a new high on mid-April and despite the stock has been consolidating for two months, the recent technical indicate a continuation of the upside:

 

  1. Having broken the major resistance turned support zone at 227.84-231.91 from the falling wedge, it has confirmed the immediate new high since then.
  2. The consolidative part has converged into a symmetrical triangle after the rebound in March 2021. This pattern can consider a bullish pennant or flag formation.
  3. Prices has been trending above the 50 and 200- day moving average.
  4. However, do take note that the extension level of 138.2% needed to be broken to further cement the upside.

 

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis Visa Inc US:V (Bullish)

 

Visa Inc (US: V) upside looks set to continue after prices rebounded near support zone 1 on 28th June 2021. Technicals suggest a break past the resistance zone.

 

  1. The larger ascending triangle is set to break to the upside after last Friday closes with a strong bullish Marobozu.
  2. The resistance zone at US$237.38-US$238.67 is likely to break as the bullish Marobozu was formed after a slight gap above US$235.50. Indicating a strong upside.
  3. Still in an uptrend after prices trending above both the immediate and primary uptrend line. As well as above all the three major moving averages.

 

 

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

CHART LEGEND

 

Moving Average

 

Red dotted line: 200 Period MA

Blue dotted line: 50 Period MA

Green dotted line: 22 Period MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


DiDi IPO on the NYSE (DIDI:NYSE)

Ride sharing services are becoming increasingly popular for commuters due there ease of use and are often a cheaper option compared to taxis. Among some of the biggest is Chinas DiDi which has recently had an Initial Public Offering (IPO) on the New York Stock Exchange.

Headquartered in Beijing, DiDi is now one of the world’s largest ride sharing companies, servicing more than half a billion users across Asia, Australia and Latin America. Intended to be an app to immediately hail cabs, it has now expanded to car rentals, buses, and chauffeurs and delivery services.

DiDi opened trading at $16.65, well above the $14 IPO price before sliding to finish the day at $14.14, valuing the company at $68.49 billion, the largest US listing by a Chinese company since 2014. Although this was well below the $100 billion valuation DiDi was hoping for.

But how does it stack up against ride sharing giant Uber?

Please note, the below figures are based on most economics fares in Melbourne.

Uber DiDi
Base Fare $2.00 $1.98
Booking Fee $0.55 $0
Minimum fare $7.50 $6.98
Charge per minute $0.36 $0.30
Charge per kilometre $1.16 $1.08 for the first 7kms

$0.98 after

Cancellation fee $10.00 $4

 

Compared to Uber, DiDi offers extremely competitive prices. If you’re looking for the cheapest ride, DiDi might be your first choice.

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https://www.reuters.com/technology/didi-shares-set-open-over-14-higher-mega-us-ipo-2021-06-30/

https://www.investopedia.com/articles/small-business/012517/didi-chuxing.asp

Disclaimer

This publication has been prepared solely for the information of the particular person to whom it was supplied by Phillip Capital Limited (“PhillipCapital”) AFSL 246827. This publication contains general securities advice. In preparing the advice, PhillipCapital has not taken into account the investment objectives, financial situation and particular needs of any particular person. Before making an investment decision on the basis of this advice, you need to consider, with or without the assistance of a securities adviser, whether the advice in this publication is appropriate in light of your particular investment needs, objectives and financial situation. PhillipCapital and its associates within the meaning of the Corporations Act may hold securities in the companies referred to in this publication. PhillipCapital believes that the advice and information herein is accurate and reliable, but no warranties of accuracy, reliability or completeness are given (except insofar as liability under any structure cannot be excluded). No responsibility for any errors or omissions or any negligence is accepted by PhillipCapital or any of its directors, employees or agents. This publication must not be distributed to retail investors outside of Australia.


Technical Analysis Thomson Reuters Corp US:TRI (Bullish)

 

Thomson Reuters Corp (US: TRI) wave analysis indicate that the intermediate wave (3) has yet to complete and wave (3) may be an extended wave 3 that will target beyond US$110.00. Price action and technical further indicate the strong bullish upside:

 

  1. The sub-wave counts further indicate a sub-extended wave 3 of the minor phase. A double combination of the ultra-bullish wave.
  2. Ascending triangle is confirmed after Wednesday’s bullish candle broke above the triangle resistance at US$99.02. Furthermore, the resistance has been tested multiple times and therefore there it is weaken.
  3. The island bottom on 18th June indicates a shortfall retracement, further enhancing the bullish upside.
  4. Prices has been trending above the uptrend line and all three major moving averages.

 

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 200 periods MA

Blue dotted line = 50 periods MA

Green Line = 22 periods MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Most Active US Stocks on POEMS in May 2021

Most Active US Stocks on POEMS in May 2021

The following list comprises some of the most active US stocks – not in any order of ranking – on the POEMS platform in May, based on gross market value traded.

At a glance:

  • After smashing new records in April, all three major indices moved sharply down in the first half of May. They trended higher in the second half to close the month off their record highs.
  • Inflation has jumped the fastest since 2008. This poses the risk of the Fed revisiting its dovish monetary policy sooner than expected.
  • Sentiment may be affected, leading to near-term market volatility.

The three US major indices – Dow Jones, S&P 500 and Nasdaq Composite – turned down sharply from their April highs during the first half of May, on rising inflation fears. The Dow opened at 34,113 and dropped to its month low of 33,588, down 1.5%. It closed slightly higher at 34,529 at month-end.

S&P opened at 4,193 and shed 3% to a month low of 4,063, before recovering to 4,204. The tech-heavy Nasdaq opened at 13,895 and lost more than 6% to 13,031. It managed to pare some losses to close at 13,749. Though all three indices had a volatile month, two still closed near their record levels. Only the Nasdaq was more than 3% off its record high. This suggests still-bullish market sentiment.

April’s consumer prices rose 4.2%, the fastest since 2008. Inflationary pressure has been building up in recent months, which might challenge the Fed to review its monetary policy. Investors fear the Fed may raise rates sooner than later to rein in inflation. June’s FOMC meeting will provide a clearer picture on the Fed’s stance. Though it is highly unlikely that the Fed would start tampering with rates, markets are still nervous.

We have included technical charts for the 10 counters. These are based on 1-hourly and 4-hourly time frames over 60 days. The charts are for your information only and the support and resistance levels discussed are solely based on our dealers’ views. They should not be construed as buy or sell recommendations and investors and traders are advised to do their own due diligence before making any trade.

Palantir Technologies Inc (NYSE: PLTR)

Palantir, a maker of analytics software for the government, released quarterly results on 11 May. Revenue grew 49% YoY to US$341mn, beating analysts’ estimate of US$332.2mn. Earnings per share of 4 cents was in line1. After dropping more than 20% on inflation fears, the stock closed 9% higher following its results announcement.

The company’s US commercial and US government revenue grew 72% and 83% YoY respectively2. The growth in commercial revenue was important as the company previously relied heavily on the government sector. The inroads made with commercial customers were a function of the US’ economic recovery as well as successful diversification by Palantir. The latter would lower its revenue-concentration risks. Palantir also provided a better-than-expected revenue forecast of US$360mn for the coming quarter vs. market expectations of US$344.3mn. This is expected to sustain bullish sentiment.

Along with the broader market, Palantir traded down and bottomed at US$17 on 11 May. It recovered for the rest of the month after the market digested its earnings beat. The stock closed at US$22.95, up 35% from its low during the month.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Technical Sell below US$24.00

Support: US$21.93 – US$22.20

Resistance: US$24.05 – US$24.30

Bullish market structure into resistance, more potential up move once above.

Sea Ltd (NYSE: SE)

Owner of e-commerce platform, Shopee and game developer Garena, Sea reported earnings on 18 May. Revenue was US$1.76bn, up 146% YoY on the back of aggressive expansion. With the money spent on expansion, net loss also worsened 50% YoY to US$422mn. EBITDA similarly suffered from the aggressive growth, coming in at US$88mn and missing market estimate of US$172.9mn by more than 50%. As a result, investors sent the company’s shares down 5.6%.

Sea is typical of a growth company chasing after revenue and market shares. This comes at a cost. Thankfully, its main digital entertainment and e-commerce sectors are growing exponentially, by 111% and 250% YoY respectively. These growth rates are expected to make up for the company’s widening losses3.

The company was also included in the MSCI Singapore Index on 27 May. Its initial weighting in the index is 1.85%. As it is listed on the NYSE, its inclusion is expected to bring the MSCI Singapore in line with other global indices that already have exposure to New Economy sectors.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Technical Sell below US$261.35

Support: US$238.10 – US$241.20

Resistance: US$ 258.55 – US$259.65

Range-bound.

Microsoft Corporation (NASDAQ: MSFT)

One of the world’s most valuable companies, Microsoft’s Q1 2021 earnings exceeded estimates. Earnings per share was US$1.95 vs a US$1.78 estimate. Revenue topped estimate at US$41.71bn vs US$41.03bn. Revenue growth was the highest at 19% since 20184. This was thanks to a continued surge in PC demand on the back of the pandemic as well as the long-term trend towards cloud services. Microsoft is now the second-largest player in cloud services, with Azure, its cloud division enjoying double-digit revenue growth of 50%.5

Microsoft forayed into the China market in May, by partnering a Chinese retail tech company to develop cloud-based solutions for omni-channel retailing. The partnership includes grocery deliveries, which have understandably spiked during the pandemic6. Penetration of the Chinese cloud market could provide a much-needed boost for the tech giant as its cloud business recently flattened due to competition and saturation in its home country. That said, entering China has risks as its government has been reining in foreign companies’ share of the local market. Microsoft will also find itself squaring off local cloud giants like Alibaba, with its substantial share of the market.

Microsoft trended down from its high of US$263 in April, as investors took profits amid fears that inflation could hurt the tech sector the most. However, with the company’s past record of consistent earnings beats, investors may find value in the stock after its pull-back. It closed at US$249, 5% off its record high.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Technical Buy above US$247.50

Support: US$243.85

Resistance: US$252.65 – US$254.35

Strong rejection off key level at US$243.80. Incoming bullish momentum

NVIDIA Corporation (NASDAQ: NVDA)

NVIDIA reported its first-quarter earnings on 26 May. Both revenue and earnings per share outperformed, at US$5.66bn vs estimate of US$5.41bn and US$3.66 vs US$3.28 respectively. Revenue growth of 62% YoY came from a surge in demand for chips for PC games, AI development and crypto mining.7

The current global semiconductor shortage is expected to persist as demand for chips continues to escalate from numerous applications. Nvidia’s revenue could ramp up as well since its graphic processors are important components of many industries. Although a recent clamp-down on crypto mining in many countries, especially China, could affect demand for its crypto mining chips, this is expected to have minimal impact on Nvidia as it is concentrated on the gaming and data-centre businesses.

Nvidia also announced a stock split of 4-for-1 on 24 May. This gave investors an opportunity to take profits without reducing their holdings in the company substantially. It also makes the stock more investable for retail clients, now that its share price is lower. The market cheered the news and sent the stock up more than 10% following the announcement. The stock opened at US$605 before bottoming with the broader market at US$547. It closed at US$650, up 20% from its bottom.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Technical Buy above US$690.55

Support: US$660.60 – US$662.55

Resistance: US$690.40

Bullish market structure moving out of all-time high

Alibaba Group Holding Ltd (NYSE: BABA)

May was an eventful month for the largest Chinese e-commerce company, Alibaba. Reported earnings were way off estimates due to a RMB18.23bn regulatory fine in April. This contradicted the company’s earlier statement that the fine would not have a material impact on its financials. Alibaba reported its first operating loss of RMB5.47bn vs expectations of a RMB6.95bn profit for the quarter. Although revenue came in better than expected at RMB187.39bn vs RMB180.41bn8, Alibaba’s share price tanked close to 8% to a day low of US$204 due to its unexpected loss.

The earnings announcement closed the chapter on its brush with the Chinese regulators that started last year with a probe into – and eventual cancellation of – Ant Financial’s IPO. The anti-monopoly investigation has wiped off more than US$240bn from its market value. Chinese regulators now allow the Ant Group to operate as a consumer finance company, as part of a restructuring required from the group following its scrunity. Ant can also provide personal finance and other services such as bond issuances etc9. This may bring Ant one step closer to its long-awaited public listing.

Alibaba continued its momentum from the previous month, opening at US$231. After its results announcement, it sank to a low of US$204. It recovered to US$213 at month’s end, as investors believed the worst could be over for the company.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Neutral

Support: US$213.15 – US$214.00

Resistance: US$220.30 – US$221.31

Range-bound

Pinterest Inc (NYSE: PINS)

Pinterest’s shares dropped 5.42% to a low of US$62.42 in May from its opening price of US$66.00, although earnings beat expectations. The reason was disappointment with its user growth, an important metric for social-media platforms. Growth was flat in Q110.

Still, Pinterest’s monthly active users had ballooned from 265mn to 478mn between 2018 and Q1 2021. In tandem, revenue went from US$755.9mn to US$1.9bn11. As the continuous growth in its monthly active users may translate into future revenue growth, the drop in its share price may present buying opportunities for long-term investors.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Neutral

Support: US$59.90 – US$60.55

Resistance: US$66.70 – US$68.40

Range-bound

Plug Power Inc (NASDAQ: PLUG)

In early May, Plug’s share price dropped 35.38% from its opening price of US$28.54 to a low of US$18.47. This was in reaction to a class-action lawsuit filed against Plug by US investors, for allegedly making misleading statements as well as failure to disclose its 2020 annual report on time12.

After it restated its results, Plug managed to close the month at US$30.70, up 66.21% from its low of US$18.47. Investors also harboured hopes that Plug, a hydrogen and fuel cell system company, may benefit from President Biden’s US$2tr infrastructure plan to provide clean energy14.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Technical Sell below US$10.45

Support: US$9.30 – US$9.70

Resistance: US$10.63 – US$10.85

Bullish market structure into resistance, more potential up move once above

Zoom Video Communications (NASDAQ: ZM)

Zoom cascaded from its US$320.24 opening to a low of US$273.20, down 14.69% as fears of inflation and potential tax hikes15 loomed. The stock, however, rallied back to US$331.53 by the end of the month, up 21.35% from its month low. This was spearheaded by the launch of its new platform, Zoom Events, which allows event organisers to provide ticket and live events for audiences of any size.16 Zoom’s collaboration with event companies might provide new revenue opportunities.

Zoom also announced earnings on 2 June. Backed by revenue growth of 191% YoY to US$956mn from US$910.2mn, earnings per share outperformed analysts’ expectations at US$1.32 vs US$0.99.17 Its share price, however, slipped 4% due to higher-than-expected cloud-computing costs, which squeezed gross margins to 68.4% from 82.7% the previous quarter18.

Zoom did say that it had 497000 business customers, each with at least 10 employees. This was an 87% increase from a year ago.19 It may lead to revenue growth in the near future for Zoom.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Neutral

Support: US$313.07 – US$314.64

Resistance: US$330.29 – US$334.70

Range-bound

Advanced Micro Devices (NASDAQ: AMD)

Advanced Micro Devices, a semiconductor company that develops computer processors for business and consumer markets, fell to a low of US$72.50 from its opening price of US$81.97. That constituted an 11.55% drop but it managed to claw back some of the losses to close at US$80.08, up 10.46% from its low in May. This was notably aided by the company’s US$4bn stock buyback, equivalent to 4% of its market value.20

Later in early June, the comapny also launched its RX 6000M series GPUs, including three flagship chips: RX 6800M, RX 6700M and RX 6600M. AMD says these can compete with Nvidia’s RTX 3080.21 With growing technological needs, semiconductors are in heavy demand but supply just can’t seem to catch up.22 With the launch of its new chips, AMD could be one stock to look out for.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Technical Buy above US$82.50

Support: US$76.25 – US$76.76

Resistance: US$82.44 – US$82.76

Bullish market structure into resistance, more potential up move once above

CrowdStrike Holdings (NASDAQ: CRWD)

Together with all the other tech stocks, CRWD lost 15.17% in May, from its opening price of US$209.00 to US$177.29. It managed to close at US$222.15, up 25.30% from its month low. The recovery came about after it said it has extended its strategic partnership with Google to provide defence-in-depth protection to customers across hybrid cloud environments.23 This might increase demand for Crowdstrike’s services as cyber-attacks increase in frequency and scale.

To top it all, Crowdstrike reported earnings per share of US$0.10, a 400% leap from the previous quarter as it added 1,524 new subscribers. Revenue shot up 70% to US$302.8mn from the previous year.24 With its earnings and revenue beating Street estimates together with its constant upgrade of security and new demand, Crowdstrike could be another stock in your watchlist.

Most Active US Stocks on POEMS in May 2021

Technical Analysis:

Status: Neutral

Support: US$209.36 – US$212.44

Resistance: US$223.23 – US$224.99

Bullish market structure into resistance, more potential up move once above

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References:
1. https://www.cnbc.com/2021/05/11/palantir-pltr-q1-2021-earnings.html
2. https://www.businesswire.com/news/home/20210511005389/en/
3. https://www.businesstimes.com.sg/companies-markets/sea-to-replace-suntec-reit-on-msci-singapore-index
4. https://www.cnbc.com/2021/04/27/microsoft-msft-earnings-q3-2021.html
5. https://www.sdxcentral.com/articles/news/microsoft-cloud-revenue-growth-rate-flatlines-at-50/2021/04/
6. https://www.cnbc.com/2021/05/21/microsoft-pushes-into-grocery-tech-market-in-deal-with-chinas-hanshow.html
7. https://www.cnbc.com/2021/05/26/nvidia-nvda-earnings-q1-2022.html
8. https://www.cnbc.com/2021/05/13/alibaba-earnings-q4-net-loss-after-2point8-billion-antitrust-fine.html
9. https://www.cnbc.com/2021/06/03/china-approves-jack-mas-ant-group-to-operate-consumer-finance-firm.html
10. https://www.fool.com/investing/2021/04/30/pinterest-continues-growing-revenue-and-users/
11. https://www.fool.com/investing/2021/05/29/better-buy-facebook-vs-pinterest/
12. https://finance.yahoo.com/news/7-day-deadline-alert-schall-153100055.html
14. https://joebiden.com/clean-energy/
15. https://www.fool.com/investing/2021/05/04/why-zoom-video-fastly-and-square-stocks-all-fell-s/
16. https://finance.yahoo.com/news/zoom-launches-zoom-events-platform-132442496.html
17. https://www.marketwatch.com/story/zoom-video-stock-slips-after-earnings-beat-outlook-hike-11622578603
18. https://www.cnbc.com/2020/06/02/zoom-zm-earnings-q1-2021.html
19. https://www.investors.com/news/technology/zoom-stock-zoom-earnings-zm-news-q12021/
20. https://finance.yahoo.com/news/amd-unveils-4-billion-stock-172826500.html
21. https://finance.yahoo.com/news/amd-rolls-radeon-rx-6000m-145802288.html
22. https://www.cnbc.com/2021/05/07/chip-shortage-is-starting-to-have-major-real-world-consequences.html
23. https://finance.yahoo.com/news/crowdstrike-google-cloud-extend-strategic-120000354.html
24. https://finance.yahoo.com/news/crowdstrike-posts-400-earnings-growth-145323584.html

Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis: Energy Select SPDR Fund US:XLE (Bullish)

Energy Select Sector SPDR Fund (US: XLE) upside rebound since Q420 has been riding on the increased oil prices. Furthermore, multiple technical indicate that the stock can rally further:

 

  1. The ETF has not only breakout of the resistance zone at US$52.40-US$53.90, it also has broken out of the ascending triangle briefly and on Tuesday, the stock has broken out of the handle of the cup and handle formation.
  2. From another angle, the breaking out of the falling wedge in April 2021 confirms the bullish upside and despite facing pressure at the resistance zone, the correction was formed into a consolidative pennant, which indicate 1st a shortfall retracement and a bullish continuation pattern.
  3. From the Ichimoku indicator, the bullish candle on Tuesday 1st of June gap up above the Tenkan-Sen, which indicates a strong bullish signal. Furthermore, Senkou-Span A and B has is beginning to slope up and may move in parallel. All signals of the Ichimoku are pointing towards a bullish upside.

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

*Expect some minor pull back after prices reach between US$57.46-US$59.38.

 

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 9 Periods Tenkan-Sen

Blue dotted line = 26 periods Kijun-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.



Technical Analysis: Exxon Mobil Corp US:XOM (Bullish)

 

Exxon Mobil Corp (US: XOM) upside rebound since Q420 has been riding on the increased oil prices. Furthermore, recent technical indicate that the stock can rally further:

 

  1. Since the rebound from the support zone at US$52.85-US$55.36 in March and April, the stock has been making newer high and tested the major resistance zone at US$63.09-US$65.06 and despite the sell-off, the downside correction has seen some rebound at 61.8% Fibonacci retracement level of US$54.30-US$64.06 and 50-Day moving average. Indicating a shortfall retracement which is a sign of bullish strength.
  2. The morning star formation alike candlestick pattern is seen with the last bullish candle gapping up above 50% Fibonacci retracement level of US$54.30-US$64.06. Furthermore, the bullish candle has closed above the 22-day moving average.
  3. The Golden cross is still in effect as prices is still trending above all three major moving averages.

 

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

 

Red dotted line: 200 Period MA

Blue dotted line: 50 Period MA

Green dotted line: 22 Period MA

Click here to learn more about trading US stocks

Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis: Financial Select Sector SPDR Fund US:XLF (Bullish)

 

Financial Select Sector SPDR Fund (US: XLF) Strong upside is set to continue based on the recent technical:

 

  1. The primary uptrend line remains intact and despite the recent consolidation, the prices is seen deviating away from the primary uptrend line, indicating stronger bullish trend.
  2. The ascending triangle formation is indicative of a potential bullish continuation pattern.
  3. Despite constant rejection of the US$40.00 psychological resistance level, each rebound form higher lows and therefore the bulls are gaining momentum.
  4. Prices are trending above all three major moving averages.

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

 

*Should prices fail to break the resistance and breaks below the ascending triangle’s uptrend line, prices may go lower to support zone 1 before a rebound.

 

CHART LEGEND

 

Moving Average

 

Red dotted line: 200 Period MA

Blue dotted line: 50 Period MA

Green dotted line: 22 Period MA

Click here to learn more about trading US stocks

Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis: Equinox Gold Corp US:EQX (Bullish)

Technical Pulse: Equinox Gold CorpJune 1, 2021 15

 

Equinox Gold Corp (US: EQX) is heading for a break above despite the overall trend is in a bearish downside as recent technical flags out reversal indications:

 

  1. The inverted head and shoulder formation is attempting to break the neckline resistance at US$9.38 after multiple clusters forming near the resistance zone 1.
  2. The bullish pin bar which forms last Friday also engulfs the previous bearish candle, making it a 2 in 1 reversal candlestick formation. Furthermore, this indicate a shortfall retracement, which is a sign of a bullish strength.
  3. The short-term bullish crossover forms are a signal that short-term trend is in a bullish uptrend.

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

 

Red dotted line: 200 Period MA

Blue dotted line: 50 Period MA

Green dotted line: 22 Period MA

Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis: General Electric Co US:GE (Bullish)

 

General Electric Co (US: GE) Longer term uptrend remain intact despite the recent consolidative phase and technical and price action indicate further upside:

 

  1. General Electric has been forming a consolidative symmetrical triangle/pennant formation and it is indicative of a continuation of a bullish uptrend. Furthermore, since prices has rebounded from the support zone at US$12.00 region, prices has been making higher lows, indicative of a exhausted selling.
  2. Bullish engulfing candle has close above US$13.00 psychological level and the 50-day moving average.
  3. Golden cross remain intact after prices has stay supported near the 50-day MA and above the 200-day MA.

 

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

 

Red dotted line: 200 Period MA

Blue dotted line: 50 Period MA

Click here to learn more about trading US stocks

Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


The TOP 10 Traded stocks on POEMS – 12 month Average

The last 12 months has seen the rise and rise of technology related stocks particularly on the US market.  No prudent investor wouldn’t have noticed the eye watering rise in the tech heavy NASDAQ index peaking in Jan 2021.  After doing a 1 year history analysis of the top 10 traded stocks on the POEMS trading platform, it doesn’t come as a surprise to see the majority of stocks are tech related.

A chart showing the top traded stocks.  The top traded stock achieved a 10 rating for each month while the least was graded at 1 – 120 being a perfect score.

  1. Tesla

It’s no surprise that Tesla, the electric vehicle manufacturer, topped the list as the most popular stock traded on the PhillipCapital POEMS platform over the last 12 months.   Tesla ranked as the top traded company for 9 out of the 12 months and only then did it drop to 2nd rank giving it an almost perfect score of 117.

With the share price having run up some 530% from May 20 to its peak in Jan 21 its been a market darling and has certainly captured the attention of the investing public.  Moreover, its outspoken CEO Elon Musk is never far from news headlines and has no doubt single-handedly sent the profile of the company through the stratosphere.

With its burgeoning market capitalisation, it became apparent in late 2020 that Tesla would be included in the SP500 index.  This created another round of buying frenzy as large index funds would need to buy the shares as part of their index tracking portfolios.

The share price has since cooled from its Jan 21 highs with investors digesting earnings results and no doubt some profit taking has occurred.

  1. NIO

Dubbed the Chinese Tesla, NIO ranks second in the top 10 traded stocks.

Following a similar price pattern to Tesla, NIO topped out in Jan 21 and has provided plenty of volatility for the active trader over the last 12 months.

The company has started its global roll out and expansion outside of China underscoring its ambition to become a global player with its recent announcement of a Norway launch with its hub in Oslo, Norway.

  1. Alibaba

Alibaba ranked consistently in the top 10 traded US stocks over the last 12 months with interest only dropping into 2021 as investors enthusiasm waned after the axing of its highly anticipated ANT Group IPO in November 2020.

The IPO of its fintech arm was supposed to have been the largest in history.  However it was upended by increased antitrust scrutiny of online platforms and China’s crackdown on digital banking practices.  Investors became concerned about the regulatory impact on the future of the Alibaba Group and its share price declined 9% in November.

Since then, the stock hasn’t recovered and slowly dropped back to near 12 months lows.

  1. Square

The payments technology company was a familiar face in the top 10 over the last 12 months.  Fintech companies have been on the rise over the last few years and Square has been front and centre in regards to offering cutting edge payment tech for merchants and also peer to peer.

On top of a thriving ecosystem built around its Seller and Cash App platforms, Square recently secured an industrial banking charter. This means it can scale up its financial services and offer lending services to customers. This development, along with its successful ecosystems which include cryptocurrency, presents long-term growth prospects.

All this has kept investors and traders active in the stock on the PhillipCapital POEMs trading platform.

  1. Apple

The largest listed company in the world and also the most valuable brand name in the world (according to Forbes) is no stranger to our top 10 and turned in a solid fifth position over the last 12 months.

Although it hasn’t returned anything like the eye watering stock price moves like Tesla or others, the tech stalwart was still up a healthy 97% from May 2020 to the highs of Jan 2021.  The stock is also less volatile that others so some investors may see Apple as a staple for their portfolio or more attractive to the conservative trader.

Recently Apple had given up more than 2-3% on a single day a number of times. There is no fundamental change in its business that warrants such weakness but the market has been generally averse to mega-cap tech stocks.

Not all things are bleak for Apple, though. The company stands to benefit from renewed spending on 5G, post-pandemic. Recent weakness may entice long-term investors to pick up Apple at more affordable levels than its previous higher valuations.

The remainder of the top 10 was made up of:

  1. Moderna – Biotech
  2. Palantir Tech – Technology
  3. Zoom – Technology
  4. Facebook – Technology
  5. Xpeng – EV manufacturer

 

Trade US shares for a flat rate of US$6.00 on POEMS.  Open an account HERE

More information on US markets here

Disclaimer

This publication has been prepared solely for the information of the particular person to whom it was supplied by Phillip Capital Limited (“PhillipCapital”) AFSL 246827. This publication contains general securities advice. In preparing the advice, PhillipCapital has not taken into account the investment objectives, financial situation and particular needs of any particular person. Before making an investment decision on the basis of this advice, you need to consider, with or without the assistance of a securities adviser, whether the advice in this publication is appropriate in light of your particular investment needs, objectives and financial situation. PhillipCapital and its associates within the meaning of the Corporations Act may hold securities in the companies referred to in this publication. PhillipCapital believes that the advice and information herein is accurate and reliable, but no warranties of accuracy, reliability or completeness are given (except insofar as liability under any structure cannot be excluded). No responsibility for any errors or omissions or any negligence is accepted by PhillipCapital or any of its directors, employees or agents. This publication must not be distributed to retail investors outside of Australia.


Technical Analysis: Starbucks Corp US:SBUX (Bullish)

 

Starbucks Corp (US: SBUX) upside is ongoing and technical is showing further upside going forward:

 

  1. Despite prices briefly breached the primary uptrend line, prices remain supported within the support zone at US$107-US$110.
  2. The morning star formation at the base of the bullish flag is indicative of a strong bullish upside. Furthermore, there seems to be a mini potential double bottom forming at the base of the bullish flag.
  3. The Relative Strength Index is showing a bullish divergence.

 

 

 

*Timeline of the trade is 8 weeks from the date issued.

CHART LEGENDS

 

Moving Average

Red dotted line = 200-MA

Blue dotted line = 50-MA

Learn more about investing in US stocks here

Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.




Technical Analysis: Facebook Inc. NASDAQ:FB (Bullish)

 

Facebook (US: FB) uptrend looks set to continue after prices broke above the psychological resistance of US$300.00 in April 2021:

 

  1. The piercing line candle at the immediate support level of US$315.85 indicates strong demand after price filled the recent price gap up.
  2. Bullish momentum still intact as prices continue to trend above the immediate uptrend line and all three moving averages.

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

 

CHART LEGEND

 

Moving Average

 

Red dotted line: 200 Period MA

Blue dotted line: 50 Period MA

Green dotted line: 22 Period MA

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


Technical Analysis – SPDR S&P 500 ETF Trust (Bullish)

SPDR S&P 500 Trust (US: SPY) has been trending up for a year and its long term technicals show further upside. We expect a slight correction this week before resumption of the rally:

 

  1. Price is trending above all Ichimoku indicators as well as both the primary and secondary uptrend lines. This signals a continuing uptrend.
  2. The resistance level has been tested four times in recent price action, indicating a weakening resistance. However, a potential short term reversal is likely due to the appearance of Doji candles and lower volumes below the 10-period moving average the past 4 days signalling slowing price momentum.
  3. We expect prices to rise to the 161.8% and 200.00% expansion levels of US$371.94-398.01.
  4. We will likely see a correction to the 23.8% and 38.2% Fibonacci retracement levels before seeing a rebound to the target prices.

 

*Expected timeline of the trade is 10 weeks from the date of report issuance.

 

CHART LEGENDS

 

Ichimoku Kinko Hyo

Red dotted line: 9 period Tenkan-Sen

Blue dotted line: 26 period Kijun-Sen

Green Line B: 52 period Senkou Span B

Pink Line A: 26 period Senkou Span A

Black line: 26 period Chikou-Span. (Lagging line)

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Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.


4 Things to know about Trip.com’s IPO

4 Things to know about Trip.com’s IPO

At a glance:

  • China travel titan Trip.com is set to raise US$1.1bn in a secondary listing in Hong Kong on 19 April, offering shares at HK$268 a share.
  • Trip.com is one of the biggest one-stop global travel platforms with a 2.3% market share. It is also the largest online travel agency in China, with a 13.7% market share.
  • Effective containment of COVID-19 and vaccine rollout have kickstarted the global recovery and China’s travel business. Trip is expected to benefit.

Nasdaq-listed and Shanghai-based China travel firm Trip.com is en route to a secondary listing in Hong Kong, backed by China’s Internet behemoth, Baidu (BIDU.com). With an IPO valuation of more than US$1bn, Trip will be offering 31.6m shares at HK$268 each to raise US$1.1bn. Proceeds will be used to fund business expansion and technology improvements. Trading will start on 19 April under the stock code “9961”.

Here’s the lowdown on Trip.com #PhillipIPOWatch:

1. Largest online travel agency in China, one of the largest one-stop travel platforms globally

Trip.com operates online travel agencies such as Trip.com, Qunar, Skyscanner and Ctrip. Listed on Nasdaq in 2003, Trip.com has a Nasdaq market cap of around US$23.8b. With more than 400m members, it is one of the leading online travel service providers in the world. It accounts for 2.3% of the global online travel service market and 13.7% of China’s travel agency market. Services include the booking of flights, accommodation, car rental, airport transfers, train tickets, packaged tours and other forms of transportation and travel-related services. Trip provides access to more than 1.4m hotels in 200 countries and regions and more than 2m flight routes connecting over 5,000 cities around the world.

Trip.com primarily targets the Chinese market, both domestic and international travellers. The bulk of its sales are from Shanghai, Beijing, Shenzhen and Guangzhou. In recent years, Trip.com has forged strategic partnerships to extend its global reach and enrich its offerings to outbound Chinese customers, including TripAdvisor.

2. Return of travel, kickstarted by China

The Chinese government and rest of world are optimistic about the pace and scope of the economic recovery, given the unprecedented speed of COVID-19 vaccine development. China staged an impressive recovery in 2020, growing 2.3% despite long lockdowns in the first quarter. Its recovery is V-shaped and the IMF is projecting that its economy will grow by 8.1% in 2021.

4 Things to know about Trip.com’s IPO

Source: National Bureau of Statistics of China

As a sign of the recovery, Trip.com’s recent travel data shows total bookings on its platforms increasing 300% YoY during the Qingming Festival. Bookings in multiple business areas spiked for the first time this year.

China has become the biggest global travel market by number of domestic and inbound trips. The total deal value amounted to US$6.3bn in 2019 when the market size of domestic and inbound travel in China was US$1tr, which accounts for 18% of the global travel market.

The China Tourism Academy expects China’s domestic travel to rebound by 42% to 4.1bn domestic tourist trips this year. Domestic tourism revenue is expected to increase 48% to RMB3.3tr or US$511bn. The Academy also expects international travel to recover to about 30% of pre-pandemic levels in the second half of 2021. Although outbound travel is expected to restart, Chinese tourists still appear to prefer domestic travel.

3. Steady financial progress, before COVID-19

Before 2020, Trip.com was making steady financial progress. Revenue grew 60% from US$2.9bn in 2016 to almost US$4.5bn in 2018. This was largely powered by three divisions: accommodation reservation, transportation ticketing and packaged tours. By 2019, Trip.com’s revenue had reached US$5.12bn. Before trouble struck, it was forecast to grow over 30% YoY to US$6bn in 2020.

COVID-19 plunged the entire travel industry into the doldrums. Trip.com reported revenue of US$2.8bn in 2020, down 40% from 2019. Its package-travel segment was the worst hit, with a 73% drop in revenue to US$40mn from 2019. Accommodation reservation, which accounted for 38% of revenue, was down 47%. Transportation ticketing, which accounted for 39% of revenue, skidded 49%. All in, Trip.com lost US$501m in 2020.

4 Things to know about Trip.com’s IPO

Source: Trip.com’s 2020 Annual Report

4 Things to know about Trip.com’s IPO

4. Challenges

    • COVID-19 pandemic
      As global travel nosedived last year, both international and domestic travel industry ground to a halt. Additional costs were also incurred when customers cancelled their bookings or requested for refunds. As a result, Trip.com suffered a loss of US$503.8m in 2020 vs. a profit of US$1.1bn in 2019. Effective containment of the virus in China, however, plus vaccine rollout and pent-up demand for travel are expected to lead to an industry recovery in 2022.
  • Risk of expulsion from US exchange
    The Trump administration signed into law a Holding Foreign Companies Accountable Act in December 2020, primarily targeting Chinese tech companies. Under the Act, Chinese companies will be delisted from US exchanges if they do not comply with US auditing standards. As a Chinese tech company, Trip.com joins the recent exodus of Chinese companies heading for secondary listings in Hong Kong to hedge against possible expulsion from the US.

Why watch this IPO?

The global travel market contracted by more than 50% in 2020, to US$2.6tr from US$5.8tr in 2019. But the industry is expected to rebound to pre-pandemic levels in 2022.

The 17-year-old Trip.com is betting that it will be one of the beneficiaries, as a leading one-stop travel shop and one of the largest travel service providers.

A potential return to profitability and plans to improve its technology and service offerings make this one of the IPOs to watch out for in 2021.

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Reference:
1. https://investors.trip.com/static-files/08bd6175-f635-419c-9b88-f9f4eefe79ff
2. https://investors.trip.com/static-files/2c9deeb0-eafd-4d75-9f8d-87fe702a614f
3. https://www.phocuswire.com/Tripcom-Group-sees-out-2020-with-revenue-halved
4. https://asia.nikkei.com/Business/Markets/China-s-Trip.com-plans-1bn-Hong-Kong-secondary-listing#:~:text=Trip.com%20listed%20on%20the,is%20valued%20at%20%2423.8%20billion
5. https://www.cnbc.com/2021/01/18/china-economy-release-of-fourth-quarter-full-year-2020-gdp.html#:~:text=China%20says%20its%20economy%20grew,2020%2C%20but%20consumer%20spending%20fell&text=China%20reported%20GDP%20rose%202.3,National%20Bureau%20of%20Statistics%20showed
6. https://www.revfine.com/online-travel-agents/#online-travel-agents-your-hotel-should-be-working-with
7. https://investors.trip.com/news-releases/news-release-details/tripcom-group-and-tripadvisor-announce-strategic-partnership
8. https://www.chinatravelnews.com/article/143715
9. https://www.forbes.com/sites/greatspeculations/2020/02/10/how-soon-can-tripcoms-revenues-reach-the-6-billion-mark/?sh=36d8770e57e5

Disclaimer

We do not base our recommendations entirely on the above quantitative return bands. We consider qualitative factors like (but not limited to) a stock`s risk reward profile, market sentiment, recent rate of share price appreciation, presence or absence of stock price catalysts, and speculative undertones surrounding the stock, before making our final recommendation
GENERAL DISCLAIMER
This publication is prepared by Phillip Securities (Hong Kong) Ltd (“Phillip Securities”). By receiving or reading this publication, you agree to be bound by the terms and limitations set out below.
This publication shall not be reproduced in whole or in part, distributed or published by you for any purpose. Phillip Securities shall not be liable for any direct or consequential loss arising from any use of material contained in this publication.
The information contained in this publication has been obtained from public sources which Phillip Securities has no reason to believe are unreliable and any analysis, forecasts, projections, expectations and opinions (collectively the “Research”) contained in this publication are based on such information and are expressions of belief only. Phillip Securities has not verified this information and no representation or warranty, express or implied, is made that such information or Research is accurate, complete or verified or should be relied upon as such. Any such information or Research contained in this publication is subject to change, and Phillip Securities shall not have any responsibility to maintain the information or Research made available or to supply any corrections, updates or releases in connection therewith. In no event will Phillip Securities be liable for any special, indirect, incidental or consequential damages which may be incurred from the use of the information or Research made available, even if it has been advised of the possibility of such damages.
Any opinions, forecasts, assumptions, estimates, valuations and prices contained in this material are as of the date indicated and are subject to change at any time without prior notice.
This material is intended for general circulation only and does not take into account the specific investment objectives, financial situation or particular needs of any particular person. The products mentioned in this material may not be suitable for all investors and a person receiving or reading this material should seek advice from a financial adviser regarding the suitability of such products, taking into account the specific investment objectives, financial situation or particular needs of that person, before making a commitment to invest in any of such products.
This publication should not be relied upon as authoritative without further being subject to the recipient`s own independent verification and exercise of judgment. The fact that this publication has been made available constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described in this material is suitable or appropriate for the recipient. Recipients should be aware that many of the products which may be described in this publication involve significant risks and may not be suitable for all investors, and that any decision to enter into transactions involving such products should not be made unless all such risks are understood and an independent determination has been made that such transactions would be appropriate. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or a complete discussion of such risks.
Nothing in this report shall be construed to be an offer or solicitation for the purchase or sale of a security. Any decision to purchase securities mentioned in this research should take into account existing public information, including any registered prospectus in respect of such security.
Disclosure of Interest
Analyst Disclosure: Neither the analyst(s) preparing this report nor his associate has any financial interest in or serves as an officer of the listed corporation covered in this report.
Firm`s Disclosure: Phillip Securities does not have any investment banking relationship with the listed corporation covered in this report nor any financial interest of 1% or more of the market capitalization in the listed corporation. In addition, no executive staff of Phillip Securities serves as an officer of the listed corporation.
If Distribution is to Australian Investors
This report is produced by Phillip Securities (Hong Kong) Ltd and is being distributed in Australia by Phillip Capital Limited (Australian Financial Services License No. 246827). This report contains general securities advice and does not take into account your personal objectives, situation and needs. Please read the Disclosures and Disclaimers set out above. By receiving or reading this report, you agree to be bound by the terms and limitations set out above. Any failure to comply with these terms and limitations may constitute a violation of law. This report has been provided to you for personal use only and shall not be reproduced, distributed or published by you in whole or in part, for any purpose. If you have received this report by mistake, please delete or destroy it, and notify the sender immediately.