AI · HK Tech — Trades

Lenovo is the one name in this book where a strong uptrend, a passing quality screen and a positive forward view line up at once. A fresh pullback-to-VWAP buy signal fired at conviction 79 after three quiet sessions, on the back of a cluster of AI product announcements - the Qira assistant rolling out across devices, hybrid-AI enterprise launches, and a Workato partnership - that lifted the shares 6.1% on nearly double normal volume. The shares trade above every major moving average with RSI at a comfortable 65, fair value is neutral rather than stretched, and the company ranks 2nd of 21 on quality in the book. Because the close has already run 0.4 ATR past the model's entry, we are bidding at the model level of 31.75 rather than chasing the print at 32.40. Operational: HT-3 applies - the printed R:R of 0.92 is this book's known pullback-family config artifact, so the card was cleared on HT-4's forward-view-first screen instead (4wk 33.63 and 12wk 46.17 both above the 32.40 close, stop definable, price above EMA100/200); first hktech candidate to pass that screen in the standalone era. Stop held at the 30.09 ratchet watermark (live model stop 29.71 is lower; never walk down). Sizing 58.23% x 10,000 = on the 2,000-share board lot, size modifier 1.00x. L8: fills at the 2026-09-08 open, reprice if it gaps >1.5%; Mon 09-07 China trade balance is the reprice checkpoint. L5: f=0.30 forced, calib_1w -0.346 degenerate. L6 does not bind - product catalyst, not an earnings gap. Expires 2026-09-10 if unfilled. · news

decided @ 31.75 · stop 30.09 · t1w 32.31 · t4w 33.63 · t12w 46.17

Lenovo is the book's one high-conviction name and it just made a fresh 52-week high at HKon heavy volume, its second straight session printing a BUY - ADD on a 52-week breakout with the best buy rank in the book. The AI-server business is the engine — infrastructure revenue growing ~37%, a Saudi sovereign-AI build and the FIFA 2026 technology partnership all reinforce the same story — while quality screens near the top of the book (F-Score 7, ROE 28%, ROIC 24%) and the 12-week objective still sits inside the DCF anchor of HK. Valuation is a mild headwind rather than a support: the EPV anchor puts fair value below the market, so the position is added to in part, not re-sized in full. Because the close is 0.39 ATR past the model entry with RSI 69 and price 20% above VWAP, this is queued as a pullback limit rather than bought at market. Operational: GTC buy-limit at HK = live Entry_Price 28.30 + 0.25 x ATR 1.8086, the top of the mandated provenance band and still 0.86% below the 29.00 close; a fill there sits exactly at the no-chase boundary (0.25 ATR past entry) versus 0.39 at market. Band-top placement deliberately answers the no_chase_queue counterfactual (n=5, median wh_1w +5.07% COST) without loosening the no-chase bar - the 08-07 limit at 27.06 missed by HKand cost HKThe prior 27.06 order is withdrawn and repriced, never republished (Step 7 provenance). Order_Type prints 'Buy Stop @ HK' on a below-market entry - read as a LIMIT, do not execute at market (Systemic #1, second session unfixed). Expiry is 2026-08-12 by design: Lenovo reports Q1 FY27 on 2026-08-13 (horizon: direct scope, high confidence, two-sided +/-6.0%, stance queue-below), so the order dies the session before earnings - no gap-chase (L6). Gap guard: revalidate if the 08-11 open gaps >~1.5% against the 29.00 reference. Auto-withdraw if conviction falls below 65. If filled: at blended HK, cash. Held 4,000-sh leg is a HOLD: no Exit_Warning, NOT PROFIT_ARMED (Gain_ATR 1.87 < 3.0, T12_Progress 70.18 < 90), 21.6% of stop headroom, chandelier stop raised 21.52 -> 22.73 (new peak stop), ADR-0020 erosion 0%; catalyst-aware hold through 08-13 earnings - do not pre-trim. Caveats stated: Target_4w 39.44 is 17.1% above Est_High 33.68 (L1 BreakoutUp_52W overshoot, identical percentage two sessions running) so R:R is 1.78 on the printed target and 0.82 on the honest one; f=0.30 mandatory (L5, calib_1w -0.45); scorecard_bias 0 because BreakoutUp_52W has no graded history in this book (HT-2); marked to today's 29.00 close the MoS is ~-0.63 (val_adj -3, adj conviction 66) versus the printed -2 on a 24.74 price basis - above the floor either way. · news

decided @ 28.75 · stop 22.73 · t1w 31.96 · t4w 39.44 · t12w 41.32

Lenovo is the one name in this portfolio that is simultaneously rising hard, high quality, and still not asking us to pay more than we think the business is worth. It has just been named FIFA's Official Technology Partner for the 2026 World Cup - pairing near-real-time AI video infrastructure with a refurbished-server tie-up in Hong Kong - on top of the Saudi sovereign-AI build-out with Napster and DETASAD under Vision 2030, and AI-related revenue is now more than a third of sales. The shares broke to a new 20-day high on nearly double the usual volume, absorbing a dividend mark-down on the same day and still closing up 4.5%, with every moving average reclaimed and the strongest trend reading in the book. Crucially, our twelve-week projection still sits BELOW our own estimate of intrinsic worth, which is true of almost nothing else here - seventeen of twenty-one names we follow are priced beyond it, several dramatically so. We are buying half of the model's suggested size because the shares have already doubled in a month and this is a breakout, the pattern family that has been least reliable for us. | OPERATIONAL: STRONG BUY cv79 -> adj 77 (val_adj -2 on FAIR_VALUE MoS -0.3925; scorecard_bias 0 - BreakoutUp_20D|buy is n=2, hit_1w 0.50, below the n>=5 floor, report-only per HT-2). Buy_Rank 1, the only floor-clearing bullish row in a 21-name snapshot with 11 AVOIDs. Four-session rising base WATCH63 -> WATCH61 -> BUY76 -> STRONG BUY79 that STRENGTHENED through the anchor session ( 28.39% -> 74.69%) - unlike this book's prior one-print acquires. HT-4 screened before the floor and passes every leg: T4 +38.5%, T12 +42.1%, stop 21.31 = 3.08 ATR (definable, well clear of session noise), measured R:R 2.00. T12 37.34 sits INSIDE DCF_per_share 43.47 so no 'exceeds DCF anchor' annotation - Quality_Pass True, Quality_Rank 2/21, hard gate passes. SIZING: model slot 74.69% x 2,000,000 x buy_pct 20% = 298,760; size_mod 1.0 (MoS band -; L1 breakout-family haircut 0.5x -> 149,380; / 26.39 = 5,661 -> rounded DOWN to the of 2,000 -> = HK = 5.28% of book, risk-to-stop HK = 1.02%. The L1 haircut is applied by hand today (unlike 08-04) BECAUSE the engine printed a full 74.69% slot rather than the 28.39% partial that already embedded the family discount - 07-28 precedent: L1 governs size, measured geometry governs admission. REPRICED NOT CARRIED: the 08-04 card at 25.16 is closed withdrawn - it was never executable (execution 'market_open' is not in the executor's _EXEC_KINDS) - and this card uses the canonical 'market' value at the anchor's own live Entry_Price per the provenance rule. HT-6 re-checked and CLEAR: the US$2bn Alat/PIF convertible was priced in June 2026 and CAUSED the +114.8% 30-day re-rating rather than overhanging it; no new placement or registration found. RISKS: parabolic 30-day run; T4 36.54 overshoots Est_High 28.99 by 26% and the 52W high 27.42 - it is the chandelier exit's risk objective, not a forecast; Q1 FY27 results land 2026-08-13 (6 sessions out) and are ABSENT from the hk-parent horizon file - the hold-through-earnings call belongs to the 08-12 run, which the half-size is partly. f=0.30 on the 1wk per L5 (calib_1w -0.45, 7 graded buys < 10). · news

decided @ 26.39 · stop 21.31 · t1w 29.44 · t4w 36.54 · t12w 37.34