Tech Tracker | PSN May Break Through And Increase By 6.4%; Shariah-Compliant Stock FERG Expected to Surge Up to 5.2%

M+ Global Updates 10/10/2023 22:04

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 10Oct23:

1. Stock Name: Parsons Corp (PSN $Parsons PSN$ )

Parsons Corporation is a leading disruptive technology provider in the national security and global infrastructure markets, with capabilities across cyber and intelligence, space and missile defense, transportation, environmental remediation, urban development, and critical infrastructure protection. The company has two reporting segments: Federal Solutions and Critical Infrastucture

Entry: Buy above $56.40

Target: $58.00 (2.8%), $60.00 (6.4%)

Stop: $55.10 (-2.3%)

Shariah: No

Technical: Short-term consolidation breakout

2. Stock Name: Ferguson PLC (FERG $FERGUSON PLC FERG$ )

Ferguson PLC distributes HVAC and industrial supplies. The Company offers products for heating and ventilation, fabrication, facilities supply, and residential construction. Ferguson serves customers in North America.

Entry: Buy above $166.00

Target: $169.50 (2.1%), $174.60 (5.2%)

Stop: $161.70 (-2.6%)

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.

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:

· M+ Global Tech Tracker - 2Oct23

· M+ Global Tech Tracker - 3Oct23

· M+ Global Tech Tracker - 5Oct23

· M+ Global Tech Tracker - 6Oct23

· M+ Global Tech Tracker - 9Oct23

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