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Fabrinet (FN) is a $1.5 billion provider of manufacturing services to the telecom equipment industry. More specifically, they’re involved in optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products.
Shares have risen steadily all year up along their 70-day average, and have just come in for their latest touch and go. The company reports Q3 earnings on Nov. 7 and we should see a slow and steady climb leading up to that particular event. Overhead resistance can be found just above $46 per share, so that could be an attractive price area to pull some profits off the table.
Buy Fabrinet (FN) at current levels.
Jon Markman operates the investment firm Markman Capital Insights. He also offers a daily trading advisory service, Trader’s Advantage, and CounterPoint Options, a service that helps individual traders make steady, consistent profits with volatility-related instruments. Follow him on Twitter for his latest take on markets and innovation.