Tech Tracker | 2 Stocks with "Flag-formation Breakout" Signals: ECL Expected to Rise by 4.8%, OWL Expected to Rise by 6.8%

M+ Global Updates 09/11/2023 15:05

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 9Nov23:

1. Stock Name: Ecolab Inc (ECL $Ecolab Inc. ECL$ )

Ecolab Inc. is a global provider of water, hygiene, and infection prevention solutions for customers in food, healthcare, hospitality, industrial and oil and gas markets. The Company's services include food safety, sanitation, optimization of water and energy use, improvement of operational efficiency and sustainability.

Entry: Buy above $176.60
Target: $181.40 (2.7%), $185.00 (4.8%)
Stop: $172.80 (-2.2%)
Shariah: No
Technical: Flag-formation breakout


2. Stock Name: Blue Owl Capital Inc (OWL $Blue Owl Capital Inc. Class A Common Stock OWL$ )

Blue Owl Capital Inc. operates as an asset management firm. The Company offers direct lending and GP capital solutions. Blue Owl Capital serves customers in the United States.

Entry: Buy above $13.20
Target: $13.70 (3.8%), $14.10 (6.8%)
Stop: $12.85 (-2.7%)
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:

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· M+ Global Tech Tracker - 8Nov23

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