TransDigm Group – trend confirmed

The stock of the manufacturer of aircraft components TransDigm Group Inc. (WKN: A0JEP3) moves in all time planes in an intact uptrend. In addition, she has relative strength to the overall market. Over the year, the paper gained around 59 percent (S&P 500: 20%). After several weeks of sideways correction, it broke out dynamically to the upside in yesterday’s trading and marked a collapse new all-time high at $848.10. The technical picture remains bullish immediately as long as the next support zone remains at $813.39-831.58 will not be injured. Potential next short-term targets and resistances can be spotted at $848.86, $854.37/$855.85, $864.00 and $870.84/$876.43. A slide below USD 813.39 by the end of the day would negate the bullish message of the breakout and speak for a timely test of the more important support regions USD 785.77-799.74 and possibly USD 758.77-768.05. Below the latter zone, the medium-term chart picture would also cloud over.

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