Rex International Holding Ltd: Bullish Bottoming Out

Rex International Holding Ltd, a production and exploration oil company with concessions in Norway and Oman, is showing strong bullish momentum. The company, listed on the Singapore Exchange, has been flagged as a “Technical Buy” by CGS analysts due to significant improvements in its stock price performance.

Key Technical Indicators:

• The stock has broken out of a long downtrend line that began in March 2022.
• An inverted head-and-shoulders formation, a strong bullish reversal pattern, has been identified.
• Prices are trending above all Ichimoku indicators, a sign of robust bullish momentum.
• The MACD/Signal line crossover at the bottom, along with a positive histogram, indicates upward momentum.
• The stochastic oscillator has risen above the 20-level after a crossover, confirming an oversold signal reversal.
• The 23-period ROC (Rate of Change) is rising and has rebounded above the zero line, signaling positive momentum.
• The Directional Movement Index (DMI) shows a strong bullish strength signal.
• Trading volume has been expanding in a healthy fashion, further supporting the bullish case.

Entry Prices: \$0.128, \$0.120, \$0.105
Support Levels: \$0.118, \$0.089
Stop Loss: \$0.084
Resistance Levels: \$0.142, \$0.191
Target Prices: \$0.155, \$0.190, \$0.200, \$0.250

CGS recommends maintaining a “Buy” position on Rex International, given its strong technical indicators and upward trajectory.

Xiaomi Corp: A Technical Buy

Xiaomi Corp, a leader in technology and consumer electronics, has been marked as a “Technical Buy” by CGS analysts. The Hong Kong-listed company is showing promising technical signals that highlight potential upward price movements.

Entry Prices: HK\$36.25, HK\$32.10, HK\$28.26
Stop Loss: HK\$25.85
Target Prices: HK\$43.60, HK\$48.70, HK\$58.80, HK\$61.84

Xiaomi’s recent price action and strong delivery in the technology sector continue to position it as a favorable investment. With its innovative product portfolio and robust market presence, investors are encouraged to consider this stock for long-term growth.

China Oilfield Services Ltd: Riding the Uptrend

China Oilfield Services Ltd, a major player in the oilfield services sector, has been tagged as a “Technical Buy” by CGS analysts. The Hong Kong-listed company is benefiting from a positive price trend and strong fundamentals, making it an attractive opportunity for investors.

Entry Prices: HK\$7.31, HK\$6.60, HK\$6.30
Stop Loss: HK\$6.04
Target Prices: HK\$8.20, HK\$9.40, HK\$10.52, HK\$12.00

China Oilfield Services is well-positioned to leverage the growing demand for oilfield services. Its focus on operational excellence and strategic investments ensures a strong foundation for sustained growth. Investors are advised to consider this stock as a valuable addition to their portfolio.

China’s NEV (New Energy Vehicle) Sector: Robust Growth

The Chinese automotive industry continues to show promising performance, particularly in the New Energy Vehicle (NEV) segment. Companies like BYD, Li Auto, and Xpeng reported record-high monthly deliveries in September 2024, underpinning the sector’s strength.

CGS reiterates an “Overweight” rating on the Chinese auto sector, particularly focusing on smart EVs. The robust growth in this segment aligns with China’s broader push toward sustainability and innovation in automotive technologies.

Minor International: European Tailwinds

Thailand-based Minor International is benefiting from positive tailwinds in the European market. The company, known for its diversified portfolio across hospitality and food businesses, is well-poised to capitalize on recovering tourism and consumer spending in Europe.

China’s Durable Products: Gradual Impact of Stimulus Policies

China’s durable goods sector is starting to feel the effects of the government’s stimulus policies. These initiatives aim to boost consumer spending and support economic growth, providing a favorable environment for companies in this sector.

United Tractors: Diversified Strength

United Tractors, a diversified mining contractor from Indonesia, continues to maintain a strong position in its market. The company’s diversified portfolio across mining, construction, and heavy equipment positions it for sustainable growth amid fluctuating commodity prices.