Date: 30 September 2024
Broker: UOB Kay Hian
Company Overview
Hong Fok Corp (HFC SP) is a Singapore-based property development and investment company. It is involved in property management, property development, and the ownership of investment properties, with a focus on the Singapore real estate market.
Trading Information
- Current Price: S$0.830
- Target Price: S$0.925
- Protective Stop: S$0.800
- Recommended Action: Trading BUY
Technical Indicators
- Trend Analysis: Hong Fok Corp’s stock price is trading above the Ichimoku cloud, which signifies a bullish trend. The conversion and base lines are in a bullish crossover, indicating continued upward momentum.
- MACD: The MACD (Moving Average Convergence Divergence) is currently bullish, and a crossover is likely, which further supports a potential increase in the stock price.
Price Target and Timeframe
The potential upside target is set at S$0.925, with a protective stop placed at S$0.800. The anticipated timeframe for this trade is 1-2 weeks, contingent on the stock hitting the entry price range within three trading days.
Outlook
The chart and technical analysis suggest that the stock is well-positioned for further gains, with bullish signals supporting the continuation of the current upward trend.
Source: UOB Kay Hian, 30 September 2024
