Date of Report
September 30, 2024

Broker Name
CGS International Securities

Company Overview

Yuexiu Property Company Ltd. (123) is a Hong Kong-listed company engaged in the development, management, and investment in properties. The company also holds investments in Real Estate Investment Trusts (REITs) and operates through its subsidiaries.

Stock Overview

• Last Price: HK$95.75
• Bottom Reversal Confirmed: The stock has confirmed a bottom reversal, indicating a strong possibility of upward movement in the near future.

Key Technical Levels

• Entry Prices: HK$6.17, HK$4.83, HK$4.00
• Support Levels: HK$5.70, HK$3.83
• Stop Loss: HK$3.30
• Resistance Levels:
  • Resistance 1: HK$6.69
  • Resistance 2: HK$10.70
• Target Prices:
  • Target Price 1: HK$7.32
  • Target Price 2: HK$8.50
  • Target Price 3: HK$10.40
  • Target Price 4: HK$12.50

Technical Analysis

Yuexiu Property’s price action shows the formation of a double bottom, a bullish reversal pattern. The stock has broken out of a descending corrective channel, signaling a potential strong upside. The analysis also highlights the formation of three bullish golden crosses in the Ichimoku cloud, reinforcing positive price momentum.

Indicators

• Short-term Rate of Change: Rising sharply above the zero line, confirming strong momentum.
• Directional Movement Index (DMI): Indicates bullish strength as both ADX and DM+ are rising in tandem.
• Stochastic Oscillator: A mid-term oversold crossover has been confirmed.
• MACD: The long-term histogram is positive, supporting a bullish outlook.
• Volume: The trading volume has increased consecutively over the past 10 days, which further indicates investor interest and momentum.

Analyst Recommendation

Traders are advised to consider purchasing Yuexiu Property stock at the entry price of HK$6.17 or accumulate at lower levels of HK$4.83 or HK$4.00. A stop loss is recommended at HK$3.30. The analyst suggests adjusting the stop loss to break even once the stock reaches its first target price of HK$7.32.

Analyst Contact

• Name: CHUA Wei Ren, CMT
• Phone: (65) 6210 8612
• Email: weiren.chua@cgsi.com

All the information provided is sourced from the CGS International report dated September 30, 2024.