Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

NTT (Nippon Telegraph & Telephone) / Technical Analysis

<ul>
<li>NTT's rising channel will dominate trade with the topside to induce a rally stall on the back of RSI non confirmation of new price highs amid waning buy volumes.</li>
<li>RSI triangulation and bear divergence (non confirmation of new price highs) implies a deeper pullback to trendline. Priced in the bulk of good news for now.</li>
<li>May buy volumes have slows as the rise matures. Us the top of the noted range to reduce and buy a pullback near trendline support.</li>
</ul>


NTT's rising channel will dominate trade with the topside to induce a rally stall on the back of RSI non confirmation of new price highs amid waning buy volumes.
RSI triangulation and bear divergence (non confirmation of new price highs) implies a deeper pullback to trendline. Priced in the bulk of good news for now.
May buy volumes have slows as the rise matures. Us the top of the noted range to reduce and buy a pullback near trendline support.


NTT (9432) Pullback Target to Buy for Rise to 4,250

Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

<ul>
<li>Q4 and FY21 results released Thursday were largely in-line with forecasts although guidance for FY22 missed consensus as upfront costs for entering the tower business ramp up</li>
<li>For FY22, JTower will compete the transfer of 2,000 DoCoMo towers (c. one-third) and 90% of NTT East/West towers with the handover starting in Q3 </li>
<li>By FY26, JTower expects annual revenue of ¥30bn (+51% CAGR from ¥6bn in FY22) and EBITDA margins of 60% (¥18bn in EBITDA v ¥ 1.6bn)</li>
</ul>


Q4 and FY21 results released Thursday were largely in-line with forecasts although guidance for FY22 missed consensus as upfront costs for entering the tower business ramp up
For FY22, JTower will compete the transfer of 2,000 DoCoMo towers (c. one-third) and 90% of NTT East/West towers with the handover starting in Q3 
By FY26, JTower expects annual revenue of ¥30bn (+51% CAGR from ¥6bn in FY22) and EBITDA margins of 60% (¥18bn in EBITDA v ¥ 1.6bn)


JTower Q4 21 Results Reaction: Impact of Tower Deals Encouraging

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/nippon-telegraph-telephone-corporation" target="_blank" data-smartkarma-citation="entities:623:1" rel="noopener">NTT (9432 JP)</a> / <a href="https://www.smartkarma.com/entities/ntt-data-corp" target="_blank" data-smartkarma-citation="entities:11232:1" rel="noopener">NTT Data (9613 JP)</a> transaction is a little complicated, but the end goal appears, like before, to push operating control below holdcos on the chain. </li>
<li>Both <a href="https://www.smartkarma.com/entities/link-administration-holdings-ltd" target="_blank" data-smartkarma-citation="entities:970:1" rel="noopener">Link Administration (LNK AU)</a> and Dye &amp; Durham tanked over the unfortunate timing of an ACCC delay and MAC disconnect - before a price recovery to close the week.</li>
<li>MCB says the <a href="https://www.smartkarma.com/entities/agl-energy-ltd" target="_blank" data-smartkarma-citation="entities:554:1" rel="noopener">AGL Energy Ltd (AGL AU)</a> de-merger plan is bad, and now analysts say it is "underwhelming." Duh.  But the alternative? Underwhelming too, but less independent.</li>
</ul>


The NTT (9432 JP) / NTT Data (9613 JP) transaction is a little complicated, but the end goal appears, like before, to push operating control below holdcos on the chain. 
Both Link Administration (LNK AU) and Dye &amp; Durham tanked over the unfortunate timing of an ACCC delay and MAC disconnect - before a price recovery to close the week.
MCB says the AGL Energy Ltd (AGL AU) de-merger plan is bad, and now analysts say it is "underwhelming." Duh.  But the alternative? Underwhelming too, but less independent.


Last Week in Event SPACE:  NTT, Link Admin, AGL, Mindtree/Larsen & Toubro, Sihuan Pharma

Travis Lundy

<ul>
<li>KDDI reported earnings today, offering a near meaningless March 2022 results presentation slide deck, and an only slightly more meaningful new Mid-Term Plan.</li>
<li>The only clarity provided is on the bit which makes up about a third of future OP as the two-thirds (mobile telephony ARPU-related revenues) will see considerable pain this year. </li>
<li>The buyback is nice, but KDDI is no longer cheap, and may have relative upside only against Softbank Corp. </li>
</ul>


KDDI reported earnings today, offering a near meaningless March 2022 results presentation slide deck, and an only slightly more meaningful new Mid-Term Plan.
The only clarity provided is on the bit which makes up about a third of future OP as the two-thirds (mobile telephony ARPU-related revenues) will see considerable pain this year. 
The buyback is nice, but KDDI is no longer cheap, and may have relative upside only against Softbank Corp. 


KDDI (9433) Results OK, Forecasts OK, Buyback Even Better, But No Longer Cheap

<ul>
<li>Guidance for modest growth in FY22 operating income is broadly in line with expectations and reassuring after a range of potential outcomes in reports from NTT and Softbank  </li>
<li>The company has issued a mid-term plan with a positive message on growth from new businesses and in-line guidance for capex/shareholder returns but a lack of FY24 finanical targets</li>
<li>On balance, the message is positive as a stable business and rising shareholder returns makes KDDI an attractive option in a frothy market</li>
</ul>


Guidance for modest growth in FY22 operating income is broadly in line with expectations and reassuring after a range of potential outcomes in reports from NTT and Softbank  
The company has issued a mid-term plan with a positive message on growth from new businesses and in-line guidance for capex/shareholder returns but a lack of FY24 finanical targets
On balance, the message is positive as a stable business and rising shareholder returns makes KDDI an attractive option in a frothy market


KDDI (Buy) Q4 21 Results Reaction: FY22 Profits Steady and Wide-Ranging Mid-Term Plan

Japan

Nippon Telegraph and Telephone Corporation provides a variety of telecommunication services, including telephone, telegraph, leased circuits, data communication, terminal equipment sales, and related services. The Company provides both local and long distance telephone services within Japan.

NTT (Nippon Telegraph & Telephone) (9432 JP)

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

NTT (Nippon Telegraph & Telephone) (9432 JP)

NTT (9432) Pullback Target to Buy for Rise to 4,250

NTT's rising channel will dominate trade with the topside to induce a rally stall on the back of RSI non confirmation of new price highs amid...

Thomas Schroeder

JTower Q4 21 Results Reaction: Impact of Tower Deals Encouraging

At its Q4 results last week, JTower defined the magnitude of potential growth expected from tower carve-out deals announced with NTT last year. By...

Kirk Boodry

Last Week in Event SPACE: NTT, Link Admin, AGL, Mindtree/Larsen & Toubro, Sihuan Pharma

The weekend is here! Pour yourself a coffee, grab a comfortable seat, and sift through a brief summary of insights on various events discussed...

David Blennerhassett

KDDI (9433) Results OK, Forecasts OK, Buyback Even Better, But No Longer Cheap

KDDI (9433) earnings, when taken with NTT's, more than anything highlight how bad Softbank Corp (9434) earnings were. KDDI gets small growth next...

Travis Lundy

KDDI (Buy) Q4 21 Results Reaction: FY22 Profits Steady and Wide-Ranging Mid-Term Plan

KDDI appears to be weathering market challenges and guidance for modest growth in profitability in FY22 is positive. The company also issued mid...

Kirk Boodry

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)