HEICO Corporation (HEI)

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Our View

Heico Corp is an aerospace and electronics company that supplies products to niche markets such as spacecraft, defense equipment, aircraft, medical equipment, and telecommunications systems. Heico has over 11,000 FAA-approved (Federal Aviation Administration) parts and can facilitate more than 6000 DER-approved repairs. (Designated Engineering Representative) The mission-critical nature of these products involved means that expertise and reputation, which Heico has built over the years, serves as a deep specialist area. Heico is, therefore, poised to grow over the longer term.
A snapshot of the 20-year monthly chart of Heico Corp shows the uptrend that the company’s stock has been in for the last five years. The stock hit an all-time high of 147.93 in August 2019. Since then, the stock fell by almost 50%.
In April 2020, the stock broke the bottom of the long-term trend and a historical support level. Since then, it has retraced more than 23% and looks poised to go up further. The next likely target would be the previous peak at 147 and then the top of the long-term trend at 155. Stop-loss can be placed below the historical support level somewhere close to 70.
Positions have been taken at $88.51, With stop loss at $66.25, 43% below the entry point. Short-term investors take a profit point at $147$, Giving a profit of 66%.