Date: July 4, 2024
Broker: CGS International Securities Pte. Ltd.
Company Overview
SenseTime Group Inc. provides information technology services and specializes in the development of artificial intelligence software products, including computer vision software. The company operates across China and offers a variety of AI-based solutions.
Recent Stock Performance
- Last Price: 1.62
- Trend: The stock has shown a bullish reversal at the bottom, with a breakout from the falling wedge formation supported by a strong spike in volume.
Technical Analysis
The stock is demonstrating positive momentum with multiple technical indicators supporting an upward trend:
- Price Movement: Prices are trending above all Ichimoku indicators.
- MACD/Signal Line: These are rising towards the zero line, with a positive histogram.
- Stochastic Oscillator: The indicator is range-bound above the 80-line, with no strong overbought signal yet.
- ROC (Rate of Change): The 23-period ROC has risen and broken above the zero line.
- Directional Movement Index (DMI): DM+ has risen above the 25-level, signaling a possible rebound of the ADX.
Support and Resistance Levels
- Entry Price(s): 1.62, 1.30, 1.02
- Support 1: 1.27
- Support 2: 0.83
- Resistance 1: 1.77
- Resistance 2: 2.41
Price Targets
- Target Price 1: 1.85
- Target Price 2: 2.40
- Target Price 3: 3.10
- Target Price 4: 3.90
Volume
Volume has shown a healthy expansion, indicating growing investor interest and support for the bullish trend.
Risk Management
- Stop Loss: 0.80, to manage downside risk.
Source: CGS International Research Report
