Date: 16 September 2024
Broker Name: UOB Kay Hian Private Limited
Yangzijiang Shipbuilding (YZJSGD) is showing a bullish outlook, supported by favorable technical analysis indicators. The stock is currently trading at S$2.56, and analysts recommend a “Trading Buy” with an entry price range of S$2.54 to S$2.55. The upside target price is set at S$2.90.
Technical Indicators
The stock price has rebounded from a thick cloud of support, keeping the uptrend intact. A bullish crossover has occurred between the conversion and base lines, which signals further upward momentum. The MACD indicator is also bullish, and another bullish crossover is likely, further increasing the chances of the stock price moving higher in the near term.
Investment Outlook
The potential upside target for YZJSGD is S$2.90, with a recommended stop-loss at S$2.40 to manage downside risks. The recommended timeframe for this trade is 1-2 weeks, and the trading idea should be initiated if the stock hits the entry price range within three trading days.
Institutional research provides a fundamental “BUY” rating with a higher target price of S$3.40, further solidifying confidence in the stock’s upward trajectory. The technical and fundamental outlooks for Yangzijiang Shipbuilding both suggest continued positive momentum.
