Tech Tracker | RRC Expected With 9.1% Upward Room; PGR Shows "Consolidation Breakout"
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 1Nov23:
1. Stock Name: Progressive Corp/The ($Progressive Corporation PGR$ )
The Progressive Corporation operates as an insurance holding company. The Company, through its subsidiaries, provides personal and commercial automobile insurance and other speciality property-casualty insurance and related services. Progressive serves customers in the United States.
Entry: Buy above $158.00
Target: $163.00 (3.2%), $165.00 (4.4%)
Stop: $154.80 (-2.0%)
Shariah: No
Technical: Consolidation Breakout
2. Stock Name: Range Resources Corp ($Range Resources Corporation RRC$ )
Range Resources Corporation is an independent oil and gas company that explores, develops, and acquires oil and gas properties. The Company conducts operations primarily in the Southwestern, Appalachian, and Gulf Coast regions of the United States.
Entry: Buy above $35.75
Target: $38.00 (6.3%), $39.00 (9.1%)
Stop: $34.80 (-2.7%)
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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