Reported about 1 year ago
On June 22, 2024, at 4:10 pm, Taipei, the Taiwan Stock Market reached a historic high for eight consecutive days, stabilizing above 23,000 points and reaching as high as 23,406 points. Analysts from Hengda Investment Management pointed out the strong bullish trend and advised investors not to set limits, to avoid short-selling risks. Recommended stocks include Elitegroup (3652), Yang Cheng (3498), Feng Qing (2061), Huarong (5328), and Senao (3025). Elitegroup, an automatic data collection product company, secured ODM orders from major US and European manufacturers, showing positive revenue prospects for the next two years. Yang Cheng, an automated equipment supplier, experienced a moderate increase in trading volume. Feng Qing, a wire manufacturer, achieved a 61.36% year-on-year revenue growth in May, with the stock price hitting highs. Huarong, a passive component indicator stock, broke through the monthly and quarterly moving averages, reaching new three-month highs. Senao, a producer of fiber optic network access equipment, saw potential for further growth after a golden cross of the monthly and quarterly moving averages. The Taiwan Stock Market's recent highs were attributed to optimism about potential US interest rate cuts, along with strong performances by the Philadelphia Semiconductor Index, and stocks like Nvidia and TSMC. Investors are advised to focus on groups such as gallium arsenide, solar energy, panel equipment, quartz components, and medical device distribution channels.
Source: YAHOO