TECHNICAL ANALYSIS

BOC may trend higher after it gapped up with a long white marubozu candlestick last Tuesday. In view of the stock pulling further away from all the EMAs, coupled with the 20-day EMA pointing upwards, a positive outlook is expected in the immediate term. We anticipate the rising momentum to steer the stock higher and test the next level of resistance in the near term.

Fundamentals

Net profit is expected to grow at a CAGR of 3% for the next 3 years with strong net margins above 50%.

Source: Rakuten Research - 9 Apr 2024

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