Rakuten Trade Research Reports

Foreign Equities (HK) - SUN HUNG KAI PROPERTIES - Indicators.

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Publish date: Tue, 17 Sep 2024, 10:02 AM
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TECHNICAL ANALYSIS

SHK has displayed steady upward price action, and the recent crossover of the 20-day EMA above the 50-day EMA solidifies its short-term bullish momentum. The MACD remains in positive territory, and as long as the stock doesn’t break below the 20-day and 50-day EMA, outlook for SHK remains optimistic. We expect this upward trajectory to continue, potentially leading the stock to test the next resistance level soon.

Fundamentals

Net profit is expected to grow at a CAGR of 5% for the next 3 years with strong net margins of between 28%-30%.

Source: Rakuten Research - 17 Sept 2024

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