Propnex Ltd: Bullish Momentum on the Upside

Propnex Ltd, a renowned real estate agency operating in Singapore, Indonesia, and Malaysia, is currently showing signs of a robust uptrend. Analysts highlight that the company has broken out of its larger descending triangle and subsequently formed higher highs and lows. Technical indicators further bolster optimism:

• The stock is trending above all Ichimoku indicators.
• The MACD histogram is positive, with the MACD/signal line rising following a crossover at the bottom.
• The stochastic oscillator is above the 50-line, demonstrating upward momentum.
• The 23-period ROC is aligning towards the zero line.
• The directional movement index signals a strong bullish trend.
• Volume expansion remains healthy, supporting the upward trend.

Key Levels:

• Entry Price(s): 0.840, 0.795, 0.760
• Support Levels: 0.795, 0.730
• Stop Loss: 0.720
• Resistance Levels: 0.910, 1.07
• Target Prices: 0.920, 1.00, 1.10, 1.20

Recommendation: A technical buy is recommended with a bullish outlook for the stock.

OSL Group Ltd: A Technical Buy Opportunity

The Hong Kong-based OSL Group Ltd is positioned as a technical buy due to its appealing entry points and promising targets. Investors are advised to consider the following:

• Entry Price(s): 8.16, 6.38, 5.20
• Stop Loss: 4.15
• Target Prices: 10.15, 12.12, 15.00, 18.82

With its strategic positioning and technical indicators favoring an upward movement, OSL Group Ltd offers an attractive proposition for investors seeking growth opportunities in the Hong Kong market.

Capitaland Investment Ltd: Building Momentum into 4Q24

Capitaland Investment Ltd (CLI) reported a 9M24 revenue of S\$2.1 billion, which aligns with 72% of the FY24F forecast. The company’s robust performance is driven by its commercial management and private funds segment, particularly within its Fee Related Business (FRB). Capitaland’s performance and strategy make it a compelling “Add” recommendation.

Key Highlights:

• 9M24 revenue was boosted by strong performance in commercial management and private funds.
• Maintains a target price (TP) of S\$4.30.

Recommendation: Add rating maintained with an optimistic outlook for continued momentum into 4Q24.

Singapore Post Ltd: Awaiting Value Unlocking Initiatives

Singapore Post Ltd is under the spotlight as investors await strategic initiatives to unlock value. While details on upcoming steps remain sparse, the company’s fundamentals and potential for transformation make it worth monitoring.

Recommendation: Await further clarity on value-unlocking initiatives before taking action.

SIA Engineering: Fundamentals Trending in the Right Direction

SIA Engineering is showing positive trends in its fundamentals. Though the report does not provide specific numbers, the company’s overall direction appears favorable, suggesting sustained growth potential.

Recommendation: Monitor for further updates as fundamentals improve.

PTT Global Chemical: Challenges Persist with Impairment Items

Thailand-based PTT Global Chemical is facing a challenging period, weighed down by impairment items. Investors are advised to exercise caution and closely follow developments that could impact the company’s financial standing.

Recommendation: Exercise caution due to ongoing challenges.

Market Overview

Global Indices Performance

The report provides insights into global indices as of November 6, 2024, highlighting significant movements:

• Dow Jones: 43,729.93 (+3.6% YTD +16.0%)
• S&P 500: 5,929.04 (+2.5% YTD +24.3%)
• Nasdaq: 18,983.46 (+3.0% YTD +26.5%)
• Straits Times Index (Singapore): 3,602.99 (+0.6% YTD +11.2%)
• Hang Seng Index (Hong Kong): 20,538.38 (-2.2% YTD +20.5%)

Currency Movements

Currencies showed notable trends, with the US Dollar Index rising by 1.7% YTD (+3.8%) and the Japanese Yen appreciating by 9.6% YTD. Meanwhile, the Singapore Dollar strengthened modestly, up 0.9% YTD.

Commodities Analysis

Commodities displayed mixed performance:

• Gold Spot: US\$2,659.07 (-3.1% YTD +28.9%)
• Silver Spot: US\$31.18 (+31.0% YTD)
• WTI Crude Oil: US\$71.69 (-10.7% YTD)
• Cocoa Futures: US\$6,924.00 (+166.3% YTD)
• Coffee Futures: US\$248.75 (+48.7% YTD)

Conclusion

The November 7, 2024, Singapore Retail Research Report by CGS International Securities provides a detailed analysis of key companies and market trends. Propnex Ltd and Capitaland Investment Ltd stand out as strong opportunities with bullish recommendations, while Singapore Post Ltd and SIA Engineering offer potential for long-term growth. On the other hand, caution is advised for PTT Global Chemical due to ongoing challenges.

Investors are encouraged to consider these insights and analyze their portfolios for alignment with the recommendations provided.