Trendspotter: Comprehensive Analysis of Listed Companies – November 12, 2024

Broker: CGS International Securities

Introduction

Welcome to our comprehensive analysis of selected companies based on the latest Trendspotter report by CGS International Securities, published on November 12, 2024. This detailed report covers key insights and technical analysis of various companies, providing valuable information for investors and financial enthusiasts. Dive deep into the specifics of each company to make informed decisions.

Avarga Ltd – Technical Buy

Last Price: 0.235

Entry Price(s): 0.235, 0.220, 0.190

Support 1: 0.210

Support 2: 0.190

Stop Loss: 0.180

Resistance 1: 0.260

Resistance 2: 0.310

Target Price 1: 0.280

Target Price 2: 0.300

Target Price 3: 0.320

Target Price 4: 0.340

Description of the Company

Avarga Limited operates as an investment holding company. The Company, through its subsidiaries, focuses on paper manufacturing, power generation, and building materials distribution services. Avarga serves customers worldwide.

Technical Snapshot

Avarga’s price action shows strong positive action, indicating a potential continuation of the upside. Key technical pointers include:

• Stock has broken out of the range after a strong bullish break, surpassing the S\$0.210 resistance turned support.
• Prices are trending above all Ichimoku indicators.
• MACD/signal line stays elevated above the zero line.
• Stochastic Oscillator continues to rise.
• 23-period ROC rose sharply above the zero line.
• 14-period DM+ and ADX have increased dramatically, strengthening its bullish strength signal.
• Volume rose above the 20-period average, indicating sustained bullish strength.

Inkeverse Group Ltd (3700) – Technical Buy

Entry Price(s): 1.37, 1.20, 1.00

Stop Loss: 0.82

Target 1: 1.55

Target 2: 2.00

Target 3: 2.42

Target 4: 3.00

Company Overview

Inkeverse Group Ltd is a prominent technology company listed in Hong Kong. The company focuses on various tech-driven initiatives and holds a significant position in the market.

Technical Analysis

The technical buy recommendation for Inkeverse Group Ltd is based on several key entry points and targets:

• Entry prices are set at 1.37, 1.20, and 1.00, providing strategic buying opportunities for investors.
• The stop loss is positioned at 0.82 to mitigate potential downside risks.
• Target prices range from 1.55 to 3.00, indicating strong potential for price appreciation.

Yidu Tech Inc (2158) – Technical Buy

Entry Price(s): 5.50, 4.50, 3.80

Stop Loss: 3.17

Target 1: 7.45

Target 2: 10.00

Target 3: 13.08

Target 4: 20.00

Company Overview

Yidu Tech Inc is a leading technology company with a strong focus on innovative solutions. The company is listed in Hong Kong and has garnered attention for its cutting-edge technologies and growth potential.

Technical Analysis

The technical buy recommendation for Yidu Tech Inc is supported by the following details:

• Strategic entry prices are set at 5.50, 4.50, and 3.80, offering various entry points for investors.
• The stop loss is positioned at 3.17 to manage downside risks effectively.
• Target prices range from 7.45 to 20.00, highlighting significant potential for price growth.

Foxconn Industrial Internet Co Ltd (601138) – Technical Buy

Entry Price(s): 27.01, 25.00, 22.70

Stop Loss: 20.30

Target 1: 32.15

Target 2: 36.40

Target 3: 40.05

Target 4: 50.50

Company Overview

Foxconn Industrial Internet Co Ltd is a significant player in the technology manufacturing sector. Listed in China, the company is known for its extensive manufacturing capabilities and technological advancements.

Technical Analysis

The technical buy recommendation for Foxconn Industrial Internet Co Ltd is based on the following details:

• Entry prices are strategically set at 27.01, 25.00, and 22.70, providing multiple entry points for investors.
• The stop loss is positioned at 20.30 to protect against potential declines.
• Target prices range from 32.15 to 50.50, indicating substantial upside potential.

Seatrium Ltd – Execution is Still Key

Target Price: S\$2.69

Maintain Add

Company Overview

Seatrium Ltd is a prominent company in the engineering, procurement, and construction (EPC) sector. The company has a strong focus on heavy lift vessels and energy transition projects.

Key Insights

• Seatrium Ltd has secured an LOI for engineering work on the Penta Ocean heavy lift vessel, with an estimated EPC contract value of US\$400m-500m by 1Q25.
• The company’s 3Q24 business update indicates a healthy pipeline and enquiries for 2024/2025, including FPSOs, rigs, and energy transition projects.
• Legacy projects remain on track for end 2024/early 2025 delivery, with no significant concerns about potential cost overruns.
• Maintain Add rating with a target price of S\$2.69, driven by catalysts such as the conclusion of the CAD/MAS document investigation, sequential margin improvement, and order wins.

WHA Corporation – 3Q24 Misses on FX Loss and Expenses

WHA Corporation experienced a challenging 3Q24, primarily due to foreign exchange losses and increased expenses. This has impacted the company’s financial performance for the quarter.

Company Overview

WHA Corporation is a leading player in the industrial development and logistics sector in Thailand. The company focuses on providing comprehensive solutions for industrial estates, logistics, utilities, and power.

Key Insights

• The company’s 3Q24 performance was negatively impacted by foreign exchange losses and higher expenses.
• Despite these challenges, WHA Corporation remains a significant player in the industrial development sector in Thailand.

Sunway Bhd – Expect Strong 3Q to Pave Way for Upgrades

Sunway Bhd is expected to report a strong 3Q24 performance, which may lead to potential upgrades in its financial outlook.

Company Overview

Sunway Bhd is a diversified conglomerate based in Malaysia, with interests in property development, construction, healthcare, education, and hospitality.

Key Insights

• The company’s strong 3Q24 performance is anticipated to pave the way for potential upgrades in its financial outlook.
• Sunway Bhd’s diversified business portfolio positions it well for sustained growth and resilience.

Praram 9 Hospital – Boosted by Foreign Patient Traffic

Praram 9 Hospital has experienced a boost in its performance, driven by an increase in foreign patient traffic.

Company Overview

Praram 9 Hospital is a leading healthcare provider in Thailand, known for its comprehensive medical services and high-quality patient care.

Key Insights

• The hospital’s performance has been positively impacted by an increase in foreign patient traffic.
• Praram 9 Hospital continues to be a key player in Thailand’s healthcare sector, offering a wide range of medical services.

Conclusion

In summary, the Trendspotter report by CGS International Securities provides valuable insights and technical analysis of several key companies. From Avarga Ltd’s strong bullish trend to Seatrium Ltd’s promising pipeline of projects, each company presents unique opportunities and challenges for investors. Stay informed and make strategic decisions based on the comprehensive details provided in this analysis.