Trifast plc (TRI) is a United Kingdom-based manufacturer and distributor of industrial fastenings. The Company provides design support and problem solving solutions to its customers. The Company designs, manufactures and distributes a range of plastic components, metal fasteners and fixings on a global basis to both distributors and original equipment manufacturer (OEM) assemblers. It has has six manufacturing sites in Asia and one in the United Kingdom; with a global logistics capability from approximately 25 business locations within the United Kingdom, Asia, Europe and the United States.
An opportunity to invest into the Trifast story was identified some time ago by VectorVest. Indeed, Trifast continues to trade well below the VectorVest valuation as it continues to grow earnings both strongly and safely. Earnings potential (RV) is an excellent 1.33 while earnings safety (RS) is also excellent at 1.32. Above 1.3 for each metric on a scale between 0 and 2 on VectorVest is defined as excellent.
The technical position has improved over the last five months with the share breaking northwards from a consolidation pattern that was in force since May 2014. The consolidation is known by the charting subset of technical analysis as an “ascending triangle”. Trifast broke out of the pattern during April 2016 and then came back as is normal to “kiss” the former resistance. The chart of Trifast is shown below.
Over the last month the share has climbed from 130p to 150p and looks bound towards the 200p level.
At VectorVest we advocate buying safe, undervalued shares, which are rising when the general market is rising. Trifast scores well on the fundamental and technical position of the share but at present the general market is not coming to the party.
In summary Trifast has both excellent fundamentals and a strong technical trend. If and when the Primary Wave on the general London market turns upward, then the share will offer a high probability opportunity.
September 21st 2016
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