Market Overview
The recent breakneck rally in stocks has finally run out of steam, impacting Treasury yields and driving the dollar to its highest level in two years. The S&P 500 experienced a minor setback after its most significant five-day run in a year, with equities edging lower. Small caps and banks lost ground following sizable post-election gains. Tesla Inc. dropped after an impressive 45% surge, and Bitcoin approached \$90,000, buoyed by a positive outlook under President-elect Donald Trump.
Wasion Holdings Ltd (HKG: 3393) – Technical Buy
Entry Price(s): 6.70, 5.90, 5.50
Stop Loss: 4.98
Target 1/2/3/4: 7.40, 8.70, 10.30, 14.70
Wasion Holdings Ltd is showing a promising technical buy opportunity. It’s suggested to enter at prices between 5.50 to 6.70. The stop loss is set at 4.98, with multiple target prices ranging from 7.40 to 14.70, indicating a strong bullish potential. The stock’s performance is being monitored for a potential upward breakout.
Dazhong Mining Co Ltd (CHN: 001203) – Technical Buy
Entry Price(s): 9.93, 8.90, 7.84
Stop Loss: 7.40
Target 1/2/3/4: 11.35, 13.40, 19.05, 24.50
Dazhong Mining Co Ltd is on the radar as another technical buy. With entry prices between 7.84 and 9.93, the stop loss is set at 7.40. The targets range from 11.35 to 24.50, suggesting significant potential for growth. The technical indicators favor a bullish outlook for this stock.
Grab Holdings (SIN: GRAB) – Hitting All the Right Notes
Grab Holdings has reported impressive 3Q24 results with a GMV increase of 5% QoQ and 15% YoY. Additionally, the adjusted EBITDA surged by 41% QoQ and doubled YoY, beating estimates thanks to stronger margin expansion across all on-demand segments.
Grab has raised its FY24F revenue and adjusted EBITDA guidance, surpassing consensus expectations for FY24F as it anticipates sequential GMV growth in 4Q24F. The company is focused on improving order frequency and customer retention to enhance customer lifetime value. The recommendation is reiterated as “Add,” and the target price is raised to US\$4.90.
WHA Corporation (THB: WHA) – 3Q24 Misses on FX Loss and Expenses
WHA Corporation experienced a miss in its 3Q24 results due to foreign exchange losses and increased expenses. The company’s performance is currently under scrutiny to determine future prospects and potential recovery actions.
Delfi Ltd (SIN: DELFI) – An Uncertain FY25F Priced In
Delfi Ltd faces uncertainty heading into FY25F, with market conditions and company-specific factors contributing to a cautious outlook. The company’s future performance will depend on its ability to navigate these uncertainties and adapt to changing market dynamics.
Lendlease Global Commercial REIT (SIN: LEND) – Positive Reversions Driving Organic Growth
Lendlease Global Commercial REIT has shown positive reversions that are driving organic growth. The company’s focus on optimizing its portfolio and leveraging favorable market conditions has resulted in a positive outlook for future performance.
Singapore Exchange Ltd (SIN: SGX) – Technical Buy
Last Price: 11.58
Entry Price(s): 11.58, 11.00, 10.62
Support 1: 10.77
Support 2: 9.90
Stop Loss: 10.29
Resistance 1: 11.69
Resistance 2: 12.17
Target price 1: 12.37
Target price 2: 14.08
Target price 3: 15.90
Target price 4: 17.11
Singapore Exchange Limited owns and operates Singapore’s securities and derivatives exchange. The stock has reached beyond the last target price of S\$10.56 and continues to show an uptrend. The recent formation of an ascending triangle hints at a possible bullish breakout. The resistance at S\$11.69 has been tested multiple times, weakening it. Prices are trending above all Ichimoku indicators, and the MACD/signal line stays elevated above the zero line with a positive histogram.
Despite signs of being overbought, the Stochastic Oscillator has been ranging for the past two months without strong selling pressure. The 23-period ROC remains above the zero line, and volume has risen above the 20-period average, indicating a sustained and healthy bullish phase. The recommendation is a technical buy, with entry prices ranging from 10.62 to 11.58 and multiple target prices up to 17.11.
