HYBE Co Ltd: Early Bullish Reversal

HYBE Co Ltd (352820), a prominent entertainment company known for its music production, album distribution, and management services, is exhibiting signs of an early bullish reversal. The company’s stock shows a promising trend, breaking out from a downtrend line that began in June 2023. This breakout is pivotal, indicating the end of a bearish phase. The former resistance at 187,800 turned into support, confirming a bullish reversal of a double bottom formation.

The Ichimoku indicator has formed three bullish golden crosses, while the MACD histogram is positive with a rising MACD/signal line, affirming the bullish momentum. Additionally, the 23-period Rate of Change (ROC) has surged above the zero line, and an increase in volume on the breakout reinforces bullish pressure. The technical analysis suggests target prices ranging from 247,400 to 418,100, with strong support at 187,800.

The analyst, CHUA Wei Ren, recommends a technical buy for HYBE Co Ltd, with the potential for a significant upward trend over the long term.

Mermaid Maritime: Awaiting Key Order Wins

Mermaid Maritime’s 3Q24 revenue saw a slight decline quarter-over-quarter due to the completion of decommissioning contracts in the UK and Thailand. However, this was partially offset by robust cable-laying activities. Despite the challenges, the company maintains its FY24F-26F gross margin estimates, though it has revised its revenue forecasts downward due to lower fleet utilization and decommissioning order assumptions.

Excluding a forex loss of US\$2.7 million, the 3Q24 net profit aligns with the company’s US\$3.8 million estimate, with an unexpected improvement in SG&A share. The company retains an “Add” call with a revised target price of S\$0.16, anticipating new order wins as a key catalyst for growth.

Tencent: Strong Game Revenue Expected in 4Q24F

Tencent remains a formidable player in the gaming industry, with expectations of robust game revenue in the fourth quarter of 2024. The company’s strategic positioning and innovative offerings continue to drive its success in the competitive market, reinforcing its stronghold in the sector.

CSE Global: Clean Project Execution is Key

CSE Global emphasizes the importance of clean project execution as a critical factor for its continued success. The company is focused on maintaining high standards in its operations to ensure consistent performance and customer satisfaction, which are essential for future growth and stability.

Frasers Property Limited: Improved Operating Performance

Frasers Property Limited is anticipated to show better operating performance in the second half of FY24. The company’s strategic initiatives and operational efficiencies are expected to contribute positively to its financial outcomes, positioning it for favorable results in the upcoming period.