Tech Tracker | TSM Shows 6.2% Potential Upside; ANET's Flag-Formation Breakout Signals a 9.3% Possible Gain
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 15Nov23:
1. Stock Name: Arista Networks Inc ($Arista Networks, Inc. ANET$ )
Arista Networks Inc. provides cloud networking solutions for data centres and computer environments. The Company offers ethernet switches, pass-through cards, transceivers, and enhanced operating systems. Arista Networks also provides host adapter solutions and networking services. Arista Networks markets its products worldwide.
Entry: Buy above $215.00
Target: $225.00 (4.7%), $235.00 (9.3%)
Stop: $210.00 (-2.3%)
Shariah: Yes
Technical: Flag-formation breakout
2. Stock Name: Taiwan Semiconductor Manufactu ($Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR TSM$ )
Taiwan Semiconductor Manufacturing Company, Ltd. manufactures and markets integrated circuits. The Company provides the following services: wafer manufacturing, wafer probing, assembly and testing, mask production, and design services. TSMC's ICs are used in computer, communication, consumer electronics, automotive, and industrial equipment industries.
Entry: Buy above $98.90
Target: $102.30 (3.4%), $105.00 (6.2%)
Stop: $97.50 (-1.4%)
Shariah: Yes
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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