Date: September 26, 2024
Broker: CGS International Securities Singapore Pte. Ltd.

Company Overview

Yanlord Land Group Ltd is a real estate development company that specializes in developing high-end residential property projects in the People’s Republic of China. The company has built a strong reputation for delivering high-quality real estate developments, targeting an affluent market segment.

Recent Stock Performance

Yanlord Land’s stock has shown a bullish reversal, signaling potential for recovery. As of the report date, the stock was priced at S$0.440. Key technical indicators point towards a strong bullish trend. The stock had previously stopped at S$0.380, but recent price action has shown a robust reversal.

Entry and Target Prices

• Entry Price(s): S$0.440, S$0.410, S$0.370
• Stop Loss: S$0.340
• Support Levels:
  • Support 1: S$0.390
  • Support 2: S$0.350
• Resistance Levels:
  • Resistance 1: S$0.465
  • Resistance 2: S$0.350
• Target Prices:
  • Target 1: S$0.560
  • Target 2: S$0.580
  • Target 3: S$0.610
  • Target 4: S$0.800

Technical Analysis

Yanlord Land’s stock has broken out of a corrective downtrend channel, confirmed by a bullish marubozu candle accompanied by strong volume. Several technical indicators support a bullish outlook:

1. Double Bottom Formation: Increasing signs of a double bottom, indicating a bullish reversal.
2. Ichimoku Cloud Analysis: Two out of three bullish crossovers, with the conversion and baseline crossover further reinforcing the bullish signal. Leading Span A is seen rising.
3. MACD: Positive MACD histogram, with MACD and its signal line both rising post-crossover.
4. ROC (Rate of Change): The 23-period ROC has risen above the zero line and shows a bullish divergence.
5. Stochastic Oscillator: Confirmed an oversold crossover, further supporting the bullish trend.
6. Directional Movement Index: Confirms bullish strength, indicating a growing momentum for Yanlord Land.
7. Volume Spike: Volume has spiked above the 20-period average, adding further confirmation of strong buying pressure and interest.

Analyst Recommendation

The stock has displayed promising technical indicators of a bullish reversal. The recent performance suggests a significant recovery potential, with various target prices indicating upward momentum in the near future.

Analyst:
CHUA Wei Ren, CMT
T: +65 6210 8612
E: weiren.chua@cgsi.com

This comprehensive technical analysis points to a strong recovery for Yanlord Land Group Ltd, based on current market conditions and technical trends.