VISTEON: TAKE PROFITS AT ~$60/SHARE (CURRENT MATASII GAINS OF 36.5%)
VC CHART AS OF CLOSE 12-07-18
Business Summary (Yahoo Finance)
Visteon Corporation designs, engineers, and manufactures electronics products for original equipment vehicle manufacturers worldwide. The company provides instrument clusters, including standard analog gauge clusters to high-resolution, all-digital, fully reconfigurable, 2-D, and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities; and infotainment systems that allows vehicle occupants to connect their mobile devices to the system and safely access phone functions, listen to music, stream media and enable mobile connectivity applications. It also offers audio systems, including audio head units, amplifiers, and analog and digital radios; telematics control unit to enable secure connected car services, software updates, and data; SmartCore, an automotive-grade, integrated domain controller to enhance efficiency, and reduce power consumption and cost; and head-up displays (HUD), such as combiner HUD and windshield HUD that present critical information to the driver. Visteon Corporation was founded in 2000 and is headquartered in Van Buren Township, Michigan.
MATASII WATCH LIST TRIGGERS / GAINS: 36.54%
Since our last update (July 19th, 2017) VC continued its lift, moving up through a HPTZ and touching another at the larger blue (weekly) channel resistance. The fall off from the highs in Jan this year has dropped the market back to the levels from our previous idea, finding support at the blue s/r zone.
Overall we are watching the market for a potential drop back to the longer term blue channel support. The current blue s/r zone needs to be moved through first and this offer us a potential trigger consideration for a move down (orange highlight: $106.50).
IF support is found however and the market lifts, we could see a retrace back to previous support levels, or even higher to make a double top at the channels resistance. The highlighted level at $125.60 marks the support that can be seen to hold the market as it hit and reversed off the top of the channel, lifting past this would be more than a retrace to previous levels and could indicate a continuation of the larger trend. The previous highs (where it hit the top of the channel) and then the top of the channel again are the next higher levels to look towards.