Tech Tracker | ANET Signals Consolidation Breakout with 6.2% Potential Upside; AFL Recommended Buy above $78 with TP at $80.40

M+ Global Updates 09/10/2023 22:51

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 9Oct23:

1. Stock Name: Arista Networks Inc (ANET $Arista Networks, Inc. ANET$ )

Arista Networks Inc. provides cloud networking solutions for data-centers and computer environments. The Company offers ethernet switches, pass-through cards, transceivers, and enhanced operating systems. Arista Networks also provides host adapter solutions and networking services. Arista Networks markets its products worldwide.

Entry: Buy above $193.00

Target: $198.50 (2.8%), $205.00 (6.2%)

Stop: $187.00 (-3.1%)

Shariah: Yes

Technical: Consolidation breakout

2. Stock Name: Aflac Inc (AFL $Aflac Incorporated AFL$ )

Aflac, Inc. is a general business holding company. The Company, through its subsidiaries, provides supplemental insurance to individuals in the United States and Japan. Aflac's products include accident and disability, cancer expense, short-term disability, sickness and hospital indemnity, hospital intensive care, and fixed-benefit dental plans.

Entry: Buy above $78.00

Target: $79.30 (1.7%), $80.40 (3.1%)

Stop: $76.00 (-2.6%)

Shariah: No

Technical: Monitor for ascending triangle 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.

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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.