Tech Tracker | Vertex's Consolidation Breakout; U.S. Steel Stock Targets $33.50 - a 6.0% Leap!
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 20:
1. Stock Name: Vertex Pharmaceuticals Inc ( $Vertex Pharmaceuticals Incorporated VRTX$ )
Vertex Pharmaceuticals Incorporated discovers, develops, and commercializes pharmaceutical products. The Company develops drugs for the treatment of cystic fibrosis, cancer, inflammatory bowel, autoimmune disease, and neurological disorders. Vertex Pharmaceuticals serves healthcare sector worldwide.
Entry: Buy above $358.00
Target: $367.00 (2.5%), $372.00 (3.9%)
Stop: $352.00 (-1.7%)
Shariah: Yes
Technical: Consolidation breakout
2. Stock Name: United States Steel Corp ( $United States Steel Corporation X$ )
United States Steel Corporation operates as an integrated steel producer. The Company manufactures flat-rolled and tubular products with production operations in North America and Europe. United States Steel serves the automotive, appliance, container, industrial machinery, construction, and oil and gas industries.
Entry: Buy above $31.60
Target: $32.50 (2.8%), $33.50 (6.0%)
Stop: $30.90 (-2.2%)
Shariah: Yes
Technical: Pennant-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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