The USD 33.05 support, currently tested, should allow ITT Corp to rally again.

From a fundamental viewpoint, ITT Corp seems undervalued in terms of enterprise value. Based on the current price, its market capitalization, plus its net debt, represents 1.21 times its revenues.
This valuation is only 9.28 and 14.74 times the two next years earnings.
Furthermore, EPS estimates have been revised upward in the last few months by analysts.
Moreover, recently, EPS estimates for the two coming years have been revised upward by analysts. This positive fact opens the way for a better evaluation of the security by investors.

ITT Corp is oversold and near to USD 35.45. This situation gives credit to a potential technical rebound on this level already tested few months ago. Thus, the stock could find new energy and would rise towards the next USD 37.35 resistance.

Therefore, the proximity of the USD 35.45 support is an opportunity to go long on ITT Corp. The first goal is a return in the USD 37.35 resistance area, that is a potential of around 5%. A stop-loss will be placed at USD 34.8.