Tech Tracker | PDD, SMCI Show Short-term Consolidation Breakout Signals, One With 17% Room Upside
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 3Oct23:
1. Stock Name: PDD Holdings Inc ($PINDUODUO INC. PDD$ )
PDD Holdings Inc. is a multinational commerce group that owns and operates a portfolio of businesses. The Company focuses on the digital economy so that local communities and small businesses can benefit from the increased productivity and new opportunities. PDD Holdings has built a network of sourcing, logistics, and fulfilment capabilities for its underlying businesses.
Entry: Buy above $99.70
Target: $107.00 (7.3%), $111.00 (11.3%)
Stop: $97.70 (-2.0%)
Shariah: Yes
Technical: Short-term consolidation breakout
2. Stock Name: Super Micro Computer Inc ($Super Micro Computer, Inc. SMCI$ )
Super Micro Computer, Inc. designs, develops, manufactures and sells server solutions based on modular and open-standard architecture. The Company offers servers, motherboards, chassis, and accessories. Super Micro Computer markets its products worldwide.
Entry: Buy above $288.00
Target: $312.00 (8.3%), $338.00 (17.4%)
Stop: $274.00 (-4.9%)
Shariah: Yes
Technical: Short-term consolidation 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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