TECHNICAL ANALYSIS

LENOVO recently formed a double bottom pattern and surpassed the HKD10 neckline a few sessions ago, signaling a trend reversal. As the stock continues to pull away from all the EMAs, with the 20-day EMA pointing upwards, we expect a positive outlook in the near term. As such, we anticipate this rising momentum to steer the stock higher, testing the next level of resistance soon.

Fundamentals

Net profit is expected to grow at a CAGR of 30% for the next 3 years with net margins of around 3%.

Source: Rakuten Research - 30 May 2024

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