Tech Tracker | PACCAR, Bentley Systems Signal Flag-Formation Breakout, With 6% Plus Potential Upside Targets
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 5Oct23:
1. Stock Name: PACCAR Inc ($PACCAR Inc PCAR$ )
PACCAR Inc. designs, develops, manufactures, and distributes light, medium, and heavy-duty trucks, and related aftermarket distribution of parts. The Company also offers finance and leasing services to its customers and dealers.
Entry: Buy above $86.50
Target: $89.50 (3.5%), $91.80 (6.1%)
Stop: $83.50 (-3.5%)
Shariah: No
Technical: Flag-formation breakout
2. Stock Name: Bentley Systems Inc ($Bentley Systems BSY$ )
Bentley Systems, Incorporated provides software solutions. The Company offers software for bridge analysis, construction, simulation and analysis, modelling, and geotechnical engineering. Bentley Systems serves customers worldwide.
Entry: Buy above $51.00
Target: $53.00 (3.9%), $54.40 (6.7%)
Stop: $49.30 (-3.3%)
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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