The Cooper Companies is a medical device company that makes medical devices, genomic & fertility products, and contact lenses. Cooper is the second-largest company in the contact lens market. The company is well-established in its niche and has a global presence across three continents. Given its strong position in the industry, Cooper is poised to grow in the long run.

The long-term chart for Cooper Companies shows a strong and consistent uptrend. There have been a few pullbacks along the way, the most significant one happening in March 2020. It was the only time when the price broke the bottom of the long-term trend. Otherwise, the price has respected the bottom trend line for a decade. In more recent times, the $365 level has become an important area of value as it acted as a resistance in March 2020 and then as support in June 2021. The price in July 2021 peaked at $463 before pulling back and finding support at the $365 level. A reversal is likely, and a long position is, therefore, recommended. The target price is $463, and a stop loss can be placed below the bottom trend line at $347.

Position entered into our long-term tracking portfolio today. The entry point is at $413.46, and stop-loss is $357.45, which is 14%% below the entry point. The short-term to medium-term take profit at the top of the trend is set at $454.82, giving a profit of 10%.