FUTU: strong potential for 2024
FUTU reached the upper zone of mid-term 52-45 support range and is trying to find a footing.
I like the gap-up with substantial volume today. Re-claiming the 50d moving average would be a constructive next step in shifting the odds of important bottom in place.
Otherwise, if 50.28 level will not hold, next support levels are: 49-45.
Suggested price structure is in-tact until price holds above 40.90 level.
Fundamentally solid with strong sales and earnings growth 4qrts in a row, high EPS growth estimates for 2023 and decent 2024, could be a perspective growth candidate to outperform the markets in 2024 (in favourable environment).
I like the gap-up with substantial volume today. Re-claiming the 50d moving average would be a constructive next step in shifting the odds of important bottom in place.
Otherwise, if 50.28 level will not hold, next support levels are: 49-45.
Suggested price structure is in-tact until price holds above 40.90 level.
Fundamentally solid with strong sales and earnings growth 4qrts in a row, high EPS growth estimates for 2023 and decent 2024, could be a perspective growth candidate to outperform the markets in 2024 (in favourable environment).
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