Date: October 22, 2024
Broker: CGS International

Overview

First Pacific Co Ltd is a Hong Kong-based investment management and holding company. It focuses on investments in consumer, telecommunications, infrastructure, and natural resources sectors, primarily in the Asia-Pacific region. The company manages a diverse portfolio of businesses across various industries.

Current Stock Performance

• Last Price: HKD 4.43
• Entry Price Range: HKD 4.43, 4.04, 3.65
• Support Levels:
  • Support 1: HKD 3.25
• Resistance Levels:
  • Resistance 1: HKD 4.84
  • Resistance 2: HKD 5.00
  • Resistance 3: HKD 6.60
  • Resistance 4: HKD 8.40
• Stop Loss: HKD 3.25
• Target Prices: HKD 4.84, 5.00, 6.60, 8.40

Technical Analysis

First Pacific Co Ltd’s stock is showing an intact uptrend, marked by a consistent increase in trading volume and a favorable price movement pattern. The stock has been moving within an upward trend, reflecting positive investor sentiment and sustained buying interest.

The technical setup is strong, with support from multiple moving averages, suggesting continued upward momentum. The series of resistance levels offers a clear path for potential price gains, making it a viable candidate for traders looking for medium- to long-term growth opportunities.

Trading Strategy

Traders may consider entering long positions at the current price levels or on pullbacks towards the lower entry range. Setting a stop loss at HKD 3.25 helps manage risk. The stock has multiple price targets, with the highest being HKD 8.40, presenting a significant upside potential for investors willing to hold through the trend.

Analyst Comments

The analysis indicates that First Pacific Co Ltd is maintaining its upward trajectory, supported by a solid technical foundation. The robust trend and clear resistance targets provide traders with potential entry and exit points, making it a favorable option for those looking to capture growth within the investment management sector. The stock’s performance suggests that it could continue to deliver gains, driven by its strategic investments and market positioning.