Parsons Corporation (PSN) Trading Idea for 12/10/2023

BATS:PSN   Parsons Corporation
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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