Singapore Retail Research: Comprehensive Analysis of Listed Companies

Date: November 14, 2024

Broker: CGS-CIMB

United Overseas Bank Ltd: Rebound is Back with a Counter Attack

United Overseas Bank Limited (UOB) has been demonstrating a strong uptrend since March 2020. The stock is currently priced at 35.50, with notable entry points at 35.50, 33.75, and 33.29. The support levels are identified at 33.76 and 32.29, while the stop-loss is set at 32.10. Resistance levels stand at 37.00 and 42.20, with target prices at 39.70, 40.80, 44.90, and 48.00.

Key factors driving this positive outlook include:

• The stock has been on an uptrend since March 2020.
• A bullish counter attack bar supported above the 9-period conversion line and 26-period base line indicates a bullish upside.
• The weekly chart shows a clear uptrend for the past four years, with all major weekly moving averages pointing upwards.
• Prices are trending above all Ichimoku indicators.
• The MACD/signal line stays elevated above the zero line, with a positive histogram.
• The 23-period ROC rose sharply above the zero line.
• The 14-period DM+ and ADX have increased, strengthening the bullish strength signal.
• Volume rose above the 20-period average, indicating sustained bullish strength.

Based on these insights, CGS-CIMB recommends a technical buy for United Overseas Bank Ltd.

Beijing Kingsoft Office Software Inc: Technical Buy

Beijing Kingsoft Office Software Inc (688111) is positioned as a technical buy with entry prices at 313.00, 258.00, and 205.8. The stop-loss is set at 178.40, with target prices at 411.35, 503.40, 659.05, and 700.50.

CGS-CIMB has identified this stock as a strong candidate due to its technical indicators and overall market conditions, making it an attractive buy for investors looking to capitalize on its growth potential.

FIT Hon Teng Ltd: Technical Buy

FIT Hon Teng Ltd (6088) is also recommended as a technical buy. The suggested entry prices are 3.14, 2.48, and 2.04, with a stop-loss at 1.74. The target prices are set at 4.50, 6.10, 8.30, and 12.70.

With a positive outlook based on technical analysis, FIT Hon Teng Ltd presents a lucrative opportunity for investors.

Ping An Healthcare and Technology Co Ltd: Technical Buy

Ping An Healthcare and Technology Co Ltd (1833) is another stock marked for a technical buy. The entry prices are 14.82, 12.96, and 11.04, with a stop-loss at 9.98. Target prices are set at 17.40, 20.70, 27.30, and 37.70.

Given the technical indicators and market trends, Ping An Healthcare and Technology Co Ltd is poised for growth, making it a recommended buy.

Other Notable Mentions

Singtel: Singtel has fine-tuned its FY25F EBIT guidance to low double-digit growth year-over-year. Cost-cutting efforts are materializing nicely, reflected in a 1H OPM expansion of 230 basis points year-over-year. The company is expected to continue its cost-cutting measures, driving FY26F OPM back to around 10%. Singtel proposes a VRD of 1.4 Scts on top of an interim DPS of 5.6 Scts. CGS-CIMB reiterates an “Add” rating, with decent FY25F/26F yield estimates of 5.3% and 6.0%, respectively.

Hyphens Pharma International: The company is experiencing slowing revenue momentum.

Starhub: Starhub is on track for a strong FY25F.

Star Petroleum Refining: The restart of SPM led to strong GRM in the third quarter.