CNOOC may trend higher has crossed above the 20-day and 50-day EMAs few sessions ago.The recent bullish EMA crossover reflects robust buying interest and supports the case for further upward movement. Furthermore, the MACD line's consistent upward movement, along with its position above the signal line, highlights strong momentum in the short to medium term.
Net profit is expected to grow at a CAGR of 3.5% for the next 3 years with strong net margins of more than 30%.
Source: Rakuten Research - 9 Jan 2025
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