Tech Tracker | Trading Flag-Formation Breakout: 2 Shariah-Compliant Stocks With Potential to Rise, One Up to 12.6%
Our in-house experts provide daily technical analysis to assist investors in making informed trading decisions and enhancing their trading strategy.
Here’s a summary of the technical analysis for September 14:
1. Stock Name: Williams-Sonoma Inc (WSM $Williams-Sonoma, Inc. WSM$ )
Williams-Sonoma, Inc. operates as a home furnishing store. The Company retails cooking and serving equipment, home furnishings, and home accessories through retail stores, mail order catalogs, and e-commerce. Williams-Sonoma serves customers in the United States.
Entry: Buy above $142.00
Target: $154.00 (8.5%), $159.95 (12.6%)
Stop: $139.00 (-2.1%)
Shariah: Yes
Technical: Impending flag-formation breakout
2. Stock Name: Synopsys Inc (SNPS $Synopsys, Inc. SNPS$ )
Synopsys, Inc. supplies electronic design automation solutions to the global electronics market. The Company provides design technologies to creators of advanced integrated circuits, electronic systems, and systems on a chip. Synopsys also provides consulting services and support to its customers to streamline the overall design process and accelerate time to market.
Entry: Buy above $466.50
Target: $482.00 (3.3%), $494.00 (5.9%)
Stop: $452.00 (-3.1%)
Shariah: Yes
Technical: Flag-formation breakout
Source: Bloomberg, M+ Global (Malacca Securities)
More about Loui:
Loui Low leads a team of analysts to perform equity and economic research and to provide investment advisory services to the organization's sales team, fund manager and retail fraternity. He has more than 10 years of experience in the stockbroking industry.
He graduated with a Bachelor of Science in Statistics from University of Malaya. He also holds an STA Diploma and is a member of the Society of Technical Analysts (MSTA) United Kingdom.
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Our technical analysis section is updated daily and features insights from our expert analyst, Loui, on the stock market. Traders may find some trading inspiration from Loui's views.
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