Date of Report: October 3, 2024
Broker: CGS International
Company Overview
New World Development Co Ltd (Stock Code: 17) is a prominent Hong Kong-based conglomerate engaged in property development, infrastructure, and service businesses. The company has a significant presence in Hong Kong and Mainland China, with a strong portfolio in real estate, infrastructure, and public services.
Stock Performance and Technical Analysis
New World Development Co Ltd is identified as a “Technical Buy,” showcasing multiple entry points for investors looking to capitalize on its growth potential.
Key Technical Indicators:
- Entry Prices:
- US$10.60
- US$8.60
- US$7.40
- Stop Loss: US$5.70
The stop loss represents a safeguard for investors in case of downward price movement. - Target Prices:
- Target 1: US$13.45
- Target 2: US$16.50
- Target 3: US$20.40
- Target 4: US$24.50
The various target prices offer potential for multiple profit-taking opportunities, depending on the holding strategy and market conditions.
Growth Prospects
New World Development Co Ltd is well-positioned in its markets, particularly in Hong Kong and Mainland China, where it continues to expand its property and infrastructure portfolio. The stock’s technical setup points to a strong potential for growth, making it an attractive buy for investors looking for medium to long-term gains.
Investment Recommendation
With multiple entry points and substantial upward targets, the recommendation for New World Development Co Ltd is a “Technical Buy.” The stock’s technical indicators and overall market position indicate significant upside potential for investors.
Contact for Further Analysis
- Analyst: CHUA Wei Ren, CMT
- Telephone: (65) 6210 8612
- Email: weiren.chua@cgsi.com
