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Strong Trending Industrial Name Nearing Breakout to Fresh Highs

by | Jul 16, 2024

Heico (HEI) shares of the industrial names are coiling in a strong bull flag and closed above monthly value on Tuesday triggering a breakout that should see a move to fib extension targets above at 235 and then 239.50 while the long-term chart is into blue sky territory so no real resistance to speak of. The large cap aircraft engine manufacturer is up 30% YTD but still relatively under the radar as it climbs higher and sees exceptionally strong sales growth. Also, a name that could likely be considered for S&P inclusion in the never several quarters with its market cap now well over the needed threshold.

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