We believe buying interests for WH Group has returned following a positive crossover of its 20-day SMA above the 50-day SMA one month ago. The stock also broke out from its 1 week bullish rectangle pattern few sessions ago, indicating additional strength may be present in near term. We expect the rising momentum is set to steer the stock higher and test the next level of resistance in the near term.
Net profit is expected to grow at a CAGR of 15% for the next 3 years with stable net margins ranging between 3.5%-4.5%.
Source: Rakuten Research - 7 Nov 2023
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