CGS International May 27, 2025 Trendspotter’s Insights: SATS Ltd Bottoming Up and Pan-United Corp Ltd Volume Growth Key Overnight Market Recap European stocks and US equity futures experienced gains following President Donald Trump’s extension of a deadline on euro area tariffs. The Stoxx Europe 600 index recovered from Friday’s losses, which were triggered by Trump’s tariff threats on the European Union. [[1]] Trump agreed to postpone the levy date to July 9 from June 1. [[1]] S&P 500 and Nasdaq 100 futures increased by over 1%. [[1]] The dollar’s value remained near its lowest level in almost two years. [[1]] Cash Treasuries were not traded due to holidays in the UK and US. [[1]] The tariff war has resurfaced as a primary market driver, overshadowing concerns about Trump’s proposed tax cuts and their impact on the US deficit. [[1]] Market uncertainty has grown due to Trump’s policy volatility, highlighted by his initial broadside against Europe and subsequent backtrack. [[1]] CMC Markets’ chief market analyst, Jochen Stanzl, noted that the stock market’s movements appear to be influenced by Trump’s actions, with threats followed by pullbacks and rebounds as investors anticipate concessions. [[1]]-[[2]] This pattern, known as the “Trump Pattern,” is increasingly seen as a successful strategy for risk-tolerant investors. [[2]] SIN: Pan-United Corp Ltd – Volume Growth and Favourable Project Mix FY26F-28F revenue growth is expected to be supported by increased institutional & civil engineering construction demand in 2025F (c.50% of 2025F demand vs. 42% in 2024). [[2]] PANU is positioned to benefit from Singapore’s ongoing infrastructure upgrades due to its strength in institutional and civil engineering projects. [[2]] The report reiterates an “Add” rating on PANU, citing its strong positioning to capitalize on construction tailwinds. [[2]] SATS Ltd – Technical Buy: Bottoming Up Last Price: 3.05 [[2]] SATS Ltd. provides gateway services and food solutions. [[2]] The Company specializes in airfreight, ramp and baggage handling, passenger services, aviation security services, aircraft cleaning, and cruise centre management. [[2]] It also provides airline catering, institutional catering, aviation laundry, and food distribution and logistics. [[2]] SATS has presence across Asia and the Middle East. [[2]] Technical Snapshot SATS is likely in the process of bottoming out, as indicated by positive price action. [[2]] Key Pointers: Since rebounding from a low of S\$2.45, SATS has been steadily climbing. [[2]] A recent break above the downtrend line and the S\$3.00 psychological level confirms the early stages of an uptrend. [[2]] Prices are trending above all Ichimoku Cloud indicator. [[2]] The MACD/signal line has shown a bullish crossover at the bottom, with a positive histogram. [[2]] The Stochastic Oscillator is rising above the 50-midpoint level. [[2]] The 23-period ROC has risen above the zero line. [[2]] The Directional Movement Index indicates a strong uptrend signal. [[2]]-[[3]] Volume has risen above the 20-period average, suggesting sustained bullish strength. [[3]] Trading Levels Entry Prices: 3.05, 3.00, 2.85 [[2]] Support 1: 2.85 [[2]] Support 2: 2.59 [[2]] Stop Loss: 2.46 [[2]] Resistance 1: 3.26 [[2]] Resistance 2: 4.00 [[2]] Target Price 1: 3.26 [[2]] Target Price 2: 3.55 [[2]] Target Price 3: 3.83 [[2]] Target Price 4: 4.00 [[2]] Disclaimer The content of this report has been prepared by and belongs to CGS International. [[3]] The report is not intended for distribution to or use by any person or entity in any jurisdiction where such distribution would be contrary to law or regulation. [[3]] Recipients of the report must comply with the specified restrictions and maintain confidentiality. 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[[14]] Hold: The stock’s total return is expected to be between 0% and positive 10% over the next 12 months. [[14]] Reduce: The stock’s total return is expected to fall below 0% or more over the next 12 months. [[14]] Sector Ratings Definition: Overweight: Stocks in the sector have, on a market cap-weighted basis, a positive absolute recommendation. [[14]]-[[15]] Neutral: Stocks in the sector have, on a market cap-weighted basis, a neutral absolute recommendation. [[15]] Underweight: Stocks in the sector have, on a market cap-weighted basis, a negative absolute recommendation. [[15]] Country Ratings Definition: Overweight: Investors should be positioned with an above-market weight in this country relative to benchmark. [[15]] Neutral: Investors should be positioned with a neutral weight in this country relative to benchmark. [[15]] Underweight: Investors should be positioned with a below-market weight in this country relative to benchmark. [[15]] Rating Distribution (%) Add: 71.0% [[15]]-[[16]] Hold: 20.9% [[15]]-[[16]] Reduce: 8.2% [[15]]-[[16]] Investment Banking Clients (%) Add: 1.3% [[15]]-[[16]] Hold: 0.7% [[15]]-[[16]] Reduce: 0.4% [[15]]-[[16]] Distribution of stock ratings and investment banking clients for the quarter ended on 31 March 2025. 551 companies under coverage for the quarter ended on 31 March 2025. [[15]]-[[16]]
