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PLXS - positive

PLXS – is now down 17% from its high on 1/23/20; just 5 weeks ago. Bad news is already out for next quarter; PLXS announced yesterday morning (3/2) that it will be impacted by the Coronavirus “*Plexus Estimates 2Q Rev Will Be Negatively Impacted by About $40M “ and PLXS closed up 0.55%. PLXS broke out from 22-month resistance at 66 in October and is now just above that breakout level; which should now be support (zoom chart). The weekly chart shows that this pattern of breaking out and the breakout level becoming support is recurring. The breakout in 2016 became support for the next 3 years. TPA’s intermediate target is +20%, but PLXS will most likely make new highs as well.