TECHNICAL ANALYSIS

HAIER may trend higher after ibreaking out from its one month bullish rectangular pattern a few sessions ago. Considering the convergence of the 20-day and 50- day EMAs with a potential bullish crossover coupled with the formation of four consecutive white candles, a positive outlook is anticipated in the upcoming sessions. We believe the rising momentum has a decent chance to kick start a new upcycle and prolong the prior uptrend in the near term.

Fundamentals

Net profit is expected to grow at a CAGR of 14% for the next 3 years with net margins exceeding 6%.

Source: Rakuten Research - 30 Jan 2024

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