Tech Tracker | Exelixis, and Blue Owl Capital Technical Analysis - Look at the Stock with 7.6% Potential Upside

M+ Global Updates 06/10/2023 17:32

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 6Oct23:

1. Stock Name: Exelixis Inc ($EXEL)

Exelixis, Inc. operates as a development-stage biotechnology company that focuses on the discovery and development of small-molecule therapeutics for the treatment of cancer and other serious diseases. The Company offers medicines to treat and defeat kidney and thyroid cancer and advanced melanoma. Exelixis develops strategic alliances with pharmaceutical and biotechnology companies.

Entry: Buy above $22.10

Target: $22.70 (2.7%), $23.20 (5.0%)

Stop: $21.75 (-1.6%)

Shariah: Yes

Technical: Breakout-pullback-continuation

2. Stock Name: Blue Owl Capital Inc ($OWL)

Blue Owl Capital Inc. operates as an asset management firm. The Company offers direct lending and GP capital solutions. Blue Owl Capital serves customers in the United States.

Entry: Buy above $13.10

Target: $13.70 (4.6%), $14.10 (7.6%)

Stop: $12.85 (-1.9%)

Shariah: No

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.

More about the tech tracker :

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.

More Insights from Loui:

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Disclaimer: The content is provided as general information only and should not be taken as investment advice. All the contents shall not be taken as a recommendation to buy or sell any security or financial instruments. Any action you take resulting from information, analysis, or commentary on this article is your responsibility. Please consult your investment advisor before making any investments.