Reported about 1 year ago
According to Hengda Investment consultant analyst Zhao Pengbo on June 15, 2024, the Taiwan stock market hit a new high of 22,504 points last week, driven by positive US CPI data and factors like Nvidia and TSMC ADR reaching new highs. Selected stocks this week include Yitai (1616), Morningstar Technology - DR (912000), Ruentex (3437), Diode (1609), and En-Tie (1528). Yitai, a major wire and cable manufacturer, has attracted significant capital recently, with a P/E ratio of 20 times, stock price rising above monthly and quarterly lines, and moderate increase in trading volume, indicating further upside potential. Diode, a producer of enameled wires and power cables, has seen its stock price reach a new high in a month with positive outlooks due to the arrangement of the monthly and quarterly lines. Morningstar Technology - DR, the world's second-largest wireless communication module manufacturer, has regained its monthly line and seen continuous foreign net buying, pointing to a favorable future performance. Ruentex, an LED packaging plant under Foxconn, achieved a revenue of 192 million in May with a 5.65% YoY growth, breaking through the monthly and quarterly lines with increased volume, signaling a high chance of rebound. En-Tie, a manufacturer of woodworking machinery and PCB production equipment, has the opportunity for further increase in the upward trend after the golden cross pattern appeared on the monthly and quarterly lines. The Weighted Index stabilized above the 22,000-point mark for three consecutive days last week, making it a crucial short-term support. The May CPI in the US, with a 3.3% YoY growth rate, has raised expectations for a rate cut in September, with the market estimating a probability of over 70% for a rate cut in September.
Source: YAHOO