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One NASDAQ – Listed Defence Stock at Resistance Level: Arm Holdings plc

Apr 30, 2024 | Team Kalkine

Read Time :5 min

One NASDAQ – Listed Defence Stock at Resistance Level: Arm Holdings plc

ARM:NASDAQ

Investment Type

Large-cap

Risk Level

Action

Rec. Price (US$)

Arm Holdings plc

Company Overview: Arm Holdings plc (NASDAQ: ARM) is a semiconductor intellectual property (IP) company. The Company develops and licenses IP for various devices worldwide, and it provides development tools that accelerate product development, from sensors to smartphones to servers. Its central processing unit (CPUs) and nomenclature for properties and units (NPUs) include Cortex-A, Cortex-M, Cortex-R, Neoverse, Ethos and SecurCore.

As per our previous US Daily report published on ‘ARM’ on 22^nd April 2024, Kalkine provided an ‘Buy’ stance on the stock at USD 91.33 based on “price action, recent key business and financial updates, momentum in the stock over the last month, and technical indicators analysis” and the stock price has now moved by ~14.64% since then and has attained resistance 1.

Noted below are the details of support and resistance levels provided in our previous report:

ARM’s Daily Chart

Considering the current trading levels, resistance 1 attainment, risks associated, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the “ARM” at the current market price of USD104.70 (as of 30 April 2024, at 06:50 am PDT).

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is April 30, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

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