TECHNICAL ANALYSIS

SUNNY OPTICAL may trend higher after breaking out from its seven-week ascending triangle pattern, surpassing the HKD46 resistance a few sessions ago. As the stock is pulling further away from all the EMAs, coupled with a bullish crossover formed last Friday, the near-term positive trend may persists. We expect 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 26% for the next 3 years with strong net margins higher than 5%.

Source: Rakuten Research - 11 Jun 2024

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