Ultra Electronics - Attack the best form of defence?

Buy Ultra Electronics ( ULE .L)

Ultra Electronics Holdings plc provides solutions and products in the defense and aerospace, security and cyber, transport and energy markets, by applying electronic and software technologies. The Company operates in three segments: Aerospace & Infrastructure, Communications & Security, and Maritime & Land. Its market facing segments are Aerospace, Infrastructure, Nuclear, Communications, C2ISR, Maritime, Land and Underwater Warfare.

Market Cap: £4.79Billion

The medium-term trend is bullish on Ultra Electronics. The shares have consolidated in recent weeks, forming an ending wedge pattern on the daily chart . The break above the upper boundary of the wedge is a bullish signal. We expect to see further upside over the coming weeks and months with a move towards new highs.

Stop: 1830p
Target 1: 2290p
Target 2: 2350p
Target 3: 2500p

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