TECHNICAL ANALYSIS

HAIER is poised for a potential breakout from its two-week bullish flag pattern. Although there was a pullback following the recent rally, we see this correction as healthy, necessary to sustain the upward trend. Since the stock is still trading above the 50-day EMA, indicating that the stock is consoliding with a positive bias hence we believe there is a strong chance for a breakout.

Fundamentals

Net profit is expected to grow at a CAGR of 12% for the next 3 years with strong net margins about 7%.

Source: Rakuten Research - 13 Jun 2024

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