Date: September 26, 2024
Broker: CGS International Securities Singapore Pte. Ltd.
Company Overview
Yanlord Land Group Ltd is a real estate development company that specializes in developing high-end residential property projects in the People’s Republic of China. The company has built a strong reputation for delivering high-quality real estate developments, targeting an affluent market segment.
Recent Stock Performance
Yanlord Land’s stock has shown a bullish reversal, signaling potential for recovery. As of the report date, the stock was priced at S$0.440. Key technical indicators point towards a strong bullish trend. The stock had previously stopped at S$0.380, but recent price action has shown a robust reversal.
Entry and Target Prices
- Entry Price(s): S$0.440, S$0.410, S$0.370
- Stop Loss: S$0.340
- Support Levels:
- Support 1: S$0.390
- Support 2: S$0.350
- Resistance Levels:
- Resistance 1: S$0.465
- Resistance 2: S$0.350
- Target Prices:
- Target 1: S$0.560
- Target 2: S$0.580
- Target 3: S$0.610
- Target 4: S$0.800
Technical Analysis
Yanlord Land’s stock has broken out of a corrective downtrend channel, confirmed by a bullish marubozu candle accompanied by strong volume. Several technical indicators support a bullish outlook:
- Double Bottom Formation: Increasing signs of a double bottom, indicating a bullish reversal.
- Ichimoku Cloud Analysis: Two out of three bullish crossovers, with the conversion and baseline crossover further reinforcing the bullish signal. Leading Span A is seen rising.
- MACD: Positive MACD histogram, with MACD and its signal line both rising post-crossover.
- ROC (Rate of Change): The 23-period ROC has risen above the zero line and shows a bullish divergence.
- Stochastic Oscillator: Confirmed an oversold crossover, further supporting the bullish trend.
- Directional Movement Index: Confirms bullish strength, indicating a growing momentum for Yanlord Land.
- Volume Spike: Volume has spiked above the 20-period average, adding further confirmation of strong buying pressure and interest.
Analyst Recommendation
The stock has displayed promising technical indicators of a bullish reversal. The recent performance suggests a significant recovery potential, with various target prices indicating upward momentum in the near future.
Analyst:
CHUA Wei Ren, CMT
T: +65 6210 8612
E: weiren.chua@cgsi.com
This comprehensive technical analysis points to a strong recovery for Yanlord Land Group Ltd, based on current market conditions and technical trends.
