Tech Tracker | Tidewater's Second Target Price Set at $80.00 (13.0% Upside), Defense Company Leonardo Demonstrates Intact Uptrend

M+ Global Updates 19/10/2023 17:47

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 19Oct23:

Stock Name: Tidewater Inc ( $Tidewater Inc. TDW$ )

Tidewater Inc. provides offshore supply vessels and marine support services to the offshore energy exploration, development, and production industry. The Company tows and anchor-handles mobile drilling rigs and equipment transports supplies and personnel, and supports pipe laying and other offshore construction activities.

Entry: Buy above $70.80

Target: $77.00 (8.8%), $80.00 (13.0%)

Stop: $68.50 (-3.2%)

Shariah: Yes

Technical: Flag-formation breakout

Stock Name: Leonardo DRS Inc ($Leonardo DRS, Inc. DRS$ )

Leonardo DRS, Inc. manufactures and supplies defense electronic systems. The Company provides reconnaissance, surveillance, target acquisition, battlefield systems, mobility and armor systems, tablets, and vehicle diagnostics products. Leonardo DRS serves military forces, intelligence agencies, and prime contractors worldwide.

Entry: Buy above $19.40

Target: $20.30 (4.6%), $21.00 (8.2%)

Stop: $18.40 (-5.2%)

Shariah: No

Technical: Uptrend Intact

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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