Sell Melrose (MRO) - Morewoes

Sell Melrose ( MRO )

Melrose Industries PLC is a United Kingdom-based company that is focused on acquiring manufacturing businesses. The Company’s segments include Aerospace, a multi-technology supplier of air frame and engine structures, including aerostructures, engine systems and special technologies; Automotive, which comprises Driveline, All Wheel Drive and e-Drive (together e-Powertrain) and Cylinder Liners businesses

Market Cap: £4.15Billion

Melrose share price has suffered sharp losses in the global sell off. The minor consolidation from the lows could now be stalling before a fresh wave of selling. The close the below the 10EMA yesterday and the underperformance during the recent market bounce suggests lower prices are likely. We look to target the 2016 lows.

Entry: 86p-94p
Stop: 105.8p
Target 1: 72p
Target 2: 60p
Target 3: 46.7p

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