ZIJIN Mining Group may trend higher after it broke out from its 2-months rectangular pattern and experienced a gap up on Monday. Coupled with the positive cross of its 20-day EMA above the 50-day EMA, this bullish crossover has enhanced the near-term positive momentum. 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 19% for the next 3 years with stable net margins of between 8%-10%.
Source: Rakuten Research - 5 Dec 2023
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Created by rakutentrade | Jul 18, 2024