Reported 8 months ago
Since reaching a new high of NT$86 on June 15, 2024, Yang Ming (2609) saw three consecutive days of corrections after, although it turned bullish on the 14th with a 4.14% increase to close at NT$75.4, with a high volume of 158,200 shares traded, reclaiming the five-day moving average. However, with a weekly decline of 9.95% due to a deep drop earlier in the week, it is advisable to consider the short-term rebound until the 10-day and 20-day moving averages are reclaimed. Yang Ming recorded a 13.25% monthly increase and a 46.18% yearly increase in revenue for May, with a 27.02% year-on-year increase in revenue for the first five months. As market demand recovers and concerns over port congestion and strikes drive freight rates up, analysts believe that Yang Ming's profits in the second and third quarters will outperform those of the first quarter, with a chance to challenge a full-year EPS.
Source: YAHOO