MTU Aero Engines is near to its support at 67 EUR and the current technical configuration allows to consider a significant rebound.

The German group is one of the leaders in engine components for the civil and military aviation. During this summer, the lowering of the forecasts on sales and earnings has had a negative impact on the share price. Now its valuation levels are low compared to its competitors like Rolls-Royce and Safran.

Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in MTU Aero Engines in order to benefit from the EUR 67 support area. The target price will be the EUR 71.4 resistance.
A stop loss order will be placed under the mid-term support currently tested at 67 EUR.