Tech Tracker | Kinross Gold is Expected to Gain 14.2%; NetEase Signals "Pennant-Formation Breakout" With 7.8% Potential Upside

M+ Global Updates 30/10/2023 16:32

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 30Oct23:

1. Stock Name: NetEase Inc ($NetEase, Inc. Sponsored ADR NTES$ )

NetEase, Inc. operates as an leading internet technology company providing online services including content, community, communication, and commerce. The Company develops and operates online games, electronic commerce, internet media, innovative business, and other businesses. NetEase expands its businesses to Japan, North American, and other other international markets.

Entry: Buy above $106.70

Target: $110.00 (3.1%), $115.00 (7.8%)

Stop: $105.40 (-1.2%)

Shariah: No

Technical: Pennant-formation breakout

2. Stock Name: Kinross Gold Corp ($Kinross Gold Corporation KGC$ )

Kinross Gold Corporation is involved in the exploration, development, and production of gold in countries located around the world. The Company currently has operations in the United States, Brazil, Chile, Mauritania, Ghana and Russia.

Entry: Buy above $5.30

Target: $5.75 (8.5%), $6.05 (14.2%)

Stop: $4.80 (-9.4%)

Shariah: Yes

Technical: Breakout-pullback-continuation

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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