Fabrinet continues its bullish trend in order to test new highest level.
The economic and financial situation of the company is still strong. Estimated sales from Thomson Reuters consensus are encouraging. Moreover, the debt is decreasing rapidly.
Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. The 20-day moving average should help to reach the USD 38.7 long term resistance.
According to both technical and fundamental elements, it seems opportune to take a long position at current prices. The bullish trend should allow the security to reach the USD 38.7 resistance. If the stock crosses it, a new target price will be set. A stop-loss will be placed under the USD 34.8 short term support to avoid a downtrend.
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 
