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Adient is Setting for a Big Move, Here’s Why By StockNews

by Mike Robinson

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© Reuters. Adient is Setting for a Big Move, Here’s Why

A support level and a down trending resistance line have formed in the chart of Adient plc (NYSE:). These have created the trading pattern known for its descending triangle. It is possible for the stock to surpass either of these levels. Read more to learn how to profit from this trade.Adient plc (ADNT) began trading Oct. 31, 2016, when Johnson Controls (NYSE:) spun off its automotive experience segment into this new company. It is the world’s largest seating provider, accounting for about 1/3 of the worldwide market.

The company has a broad customer base, as well as a strong international presence. ADNT has seen strong revenue growth due to recovering industry volumes and a large backlog. The company has seen significant revenue growth due to new business wins by auto companies like Honda (HMC), Toyota(TM), and Nissan.

ADNT’s current ratio is 1.1, which means it has enough liquidity to meet short-term commitments. Over the last three years, earnings have increased an average of 101.9% annually. According to analysts, earnings will rise by 5,625% in this year’s fiscal year. This gives the company a growth grade of B under our POWR Ratings system.

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