TRADE IDEA – Long TENNECO

by | Oct 7, 2020

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.

RECENT ANNOUNCEMENTS

TENNECO TO SUPPLY ADVANCED SUSPENSION TECHNOLOGY FOR 2021 MERCEDES-AMG GT BLACK SERIES

MONROE® INTELLIGENT SUSPENSION TECHNOLOGY FEATURED ON NEW VOLKSWAGEN ID.3 ELECTRIC VEHICLE

OVERVIEW

10 Q-2020 Q2

ADDITIONAL NOTE:

Should additional stimulus pass, they are a candidate for benefits