Fabrinet could regain its upward trend after a downward movement of 15%.
From a fundamental viewpoint, the security has many qualities. Moreover, at current price, the company is trading 9.23 times its earnings for this year and thus has a significant potential.
Fabrinet is in an uptrend in the medium and long term, but the last bearish movement returns close to a major support level. This threshold, if preserved, will enable to enjoy the bullish movement.
A decline seems possible on the USD 13.27 area even if a buying strategy could be initiated at the current level. It could be a basis for a purchase to target USD 15.3. A stop loss will be fixed below the entry point to limit the risk.
Fabrinet is a provider of advanced optical packaging and precision optical, electro-mechanical, and electronic manufacturing services to original equipment manufacturers of complex products. The complex products include optical communication components, modules and subsystems, automotive components, medical devices, industrial lasers, and sensors. The Company offers a range of advanced optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, advanced packaging, integration, final assembly, and testing. It focuses on production of high complexity products in any mix and any volume. The Company also designs and fabricates application-specific crystals, lenses, prisms, mirrors, laser components and substrates (customized optics) and other custom and standard borosilicate, clear fused quartz, and synthetic fused silica glass products (customized glass).
FABRINET 
