Meitu Inc (HKG: 1357) – A Bullish Prospect
In the latest analysis by CGS International, Meitu Inc has been identified as a promising prospect for investors seeking bullish opportunities. Meitu operates as an investment holding company through its subsidiaries, offering self-service ID photo production services, advertising, and cosmetics sales in China. The stock’s last recorded price was 3.28, with a strong bullish trend expected to continue.
The technical analysis reveals several encouraging indicators:
- The stock has been trending within a corrective channel with increasing bullish strength.
- Breaking the downtrend line since March 2017, it is forming a larger inverted head and shoulders pattern on the weekly timeframe.
- Prices are trending above all Ichimoku lines, showcasing strength.
- The MACD/signal line crossover at the bottom is rising, with a positive histogram.
- The Stochastic Oscillator continues to rise, indicating momentum.
- The 23-period Rate of Change (ROC) is above the zero line, confirming positive movement.
- The Directional Movement Index is positive, and volume shows healthy expansion.
With these indicators, CGS International has set a target price range from 4.10 to 7.00, recommending a technical buy on Meitu Inc.
Frencken Group Ltd (SIN) – Awaiting Semiconductor Industry Recovery
Frencken Group Ltd recently reported a 9-month 2024 revenue of S\$571.3 million, marking a 6.7% year-on-year increase. However, its net profit of S\$27.3 million, despite a 42.5% year-on-year rise, fell short of both internal and Bloomberg consensus forecasts. The figures represented 63% of the full-year predictions.
CGS International maintains an ‘Add’ recommendation for Frencken, based on expectations of a gradual recovery in the semiconductor industry over 2025-26. Despite the current shortfall, the bullish outlook on the semiconductor sector supports this positive recommendation.
XPeng Inc (HKG) – Eyeing Growth
XPeng Inc is setting its sights on achieving double-digit Vehicle Production and Manufacturing (VPM) growth in the fourth quarter of 2024 and throughout fiscal year 2025. The focus on expanding production capabilities and strengthening market presence underscores XPeng’s commitment to growth and increased market share in the competitive electric vehicle sector.
Sime Darby Property Berhad (MAL) – In Line with Expectations
Sime Darby Property Berhad’s 9-month fiscal year 2024 results came in line with expectations, reflecting stability in its operational performance. The company’s consistent results reiterate its strong market position and reliable performance in the Malaysian property market.
While specific financial figures were not highlighted, the alignment with performance expectations suggests a steady outlook for investors keeping a close watch on Sime Darby Property Berhad.
