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TRADE IDEA – Long TENNECO
LONG TENNECO – TEN
Scaling into this position as it is a medium to longer term trade.
CURRENT PRICE: 8.80
Buy half at 8.80 and add on a breakout of the consolidation area
STOP at 6.00
Tenneco is one of the world’s leading designers, manufacturers, and marketers of automotive products for original equipment and aftermarket customers.
They have four business groups, Motorparts, Ride Performance, Clean Air, and Powertrain, deliver technology solutions for diversified global markets, including light vehicle, commercial truck, off-highway, industrial, motorsport, and the aftermarket.
Getting into the electric car market will be huge.
Should additional stimulus pass, they are a candidate for benefits