CLP Holding recently formed a double bottom pattern and surpassed the HKD64.90 neckline a few sessions ago, suggesting a trend reversal. With the stock pulling further away from all EMAs and forming a bullish crossover last Thursday, the bullish momentum has been enhanced. We expect the rising momentum to steer the stock higher and test the next level of resistance in the near term.
Net profit is expected to grow at a CAGR of 3% for the next 3 years with strong net margins of around 15%.
Source: Rakuten Research - 18 Jul 2024
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Created by rakutentrade | Jul 16, 2024