Parsons Corporation (PSN) Trading Idea for 12/10/2023
Parsons Corporation specialises in the development of military technologies and cybersecurity. On Monday 9 October, Parsons signed a contract with the Pentagon to secure funding for their latest invention, with the possibility of additional orders in the future. The initial transaction amount was set at 53 million USD. The company's specialists will train the military to identify channels for the movement of weapons of mass destruction via civilian transport.
Today, our focus is on the Parsons Corporation (NYSE: PSN) chart.
On the D1 timeframe, support has formed at 53.95, with resistance at 57.72, which was swiftly broken through yesterday, 11 October. The stock quotes have reached their historical highs.
On the H1 timeframe, the short-term target for the price increase is around 61.50, while in the medium term, it could reach 70.20.
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Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Today, our focus is on the Parsons Corporation (NYSE: PSN) chart.
On the D1 timeframe, support has formed at 53.95, with resistance at 57.72, which was swiftly broken through yesterday, 11 October. The stock quotes have reached their historical highs.
On the H1 timeframe, the short-term target for the price increase is around 61.50, while in the medium term, it could reach 70.20.
—
Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments.
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.