Precision Castparts, industrial goods and metal fabrication company that manufactures cast metal parts for use in the aerospace, industrial, defense, and automobile industries, is back on its support area and this is a strategic entry point.

From a fundamental viewpoint, Precision Castparts has undeniable qualities. Growth is likely to be because the Thomson Reuters consensus counts on sales increase for the current year.

From a technical viewpoint, the trend is neutral in the short term. The security is trading between USD 158.40 and USD 169.70. The latest downtrend pushed the security upon contact with important levels (in the long and mid-term). These supports, respectively at USD 161.60 and USD 158.42, could stop the bearish trend of these last days.

Ideally, investors will take a long position nearby the USD 158.40 support in order to benefit from a technical rebound. The USD 169.67 is the first goal. This strategy should be covered by a stop loss placed under the USD 158.42 support because a breakdown of this level would invalidate it.