Strattec Security 1W: Bullish Crossover on MACDStrattec Security (STRT) just made a bullish crossover on the MACD, indicating a new uptrend on the weekly chart. The RSI indicator is also bullish as it moved above the 50 level, but remains below the overbought area above 70. This suggests that the stock could continue to move higher.
STRT's restructuring efforts yielded $1.7M in Q3 savings and improved gross margin to 16.46% up from 16%, with further $800K annualized savings expected from Mexico operations.
STRT's growth strategies include expanding content with existing customers, diversifying the customer base, and innovating engineered-led access systems across three key product categories.
