HEICO Corporation : Come back to a significant threshold
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
$55.63 | $0 | $54.4 | -100% |
From a fundamental viewpoint, Heico has undeniable qualities. Growth is likely to be large because the Thomson Reuters consensus counts on sales increase for the current year.
Technically, the security is in a consolidation area limited by the significant 55.3 support and the USD 62.9 resistance. Above the lower limit, investors could aim for a rebound toward the USD 58.7 first resistance area.
Ideally, investors will take a long position nearby the USD 55.3 support currently tested, in order to benefit from a technical rebound. The USD 58.7 is the first goal. This strategy should be covered by a stop loss placed under the USD 55.3 support because a breakdown of this level would invalidate it.