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Trade of the Day: Fabrinet (NYSE:FN)

Shares continue to rise along their 70-day average

   

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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.

fabrinet_102516

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.


Article printed from InvestorPlace Media, http://investorplace.com/2016/10/trade-day-fabrinet-nyse-fn/.

©2017 InvestorPlace Media, LLC