Quick Win by the Algorithm:

On August 17th, 2017, the I Know First algorithm issued a bullish 3-day forecast for RADA Electronic Industries Ltd.(NASDAQ: RADA). The forecast showed a signal of 34.43 and a predictability of 0.22. As a result, in accordance with the forecast, the company’s stock produced a return of 13.08% over this period, solidifying another quick win by the I Know First algorithm.

RADA Electronic Industries Ltd. develops, manufactures, markets, and sells defense electronics to various air forces and companies worldwide. The company offers military avionics systems, including flight data recorders for fighter aircraft; digital video/audio/data recorders with data transfer functions; high-rate data recorders for aircraft and airborne pods; video recorders and airborne data servers; a range of head-up-displays color video cameras for fighter aircraft; and various ground debriefing solutions. It also provides avionics solutions comprising integrated avionics suites for fighters and mission aircraft. RADA Electronic Industries Ltd. was founded in 1970 and is headquartered in Netanya, Israel.

The main reason for RADA’s double digit return was the announcement where RADA stated that they received a purchase order worth $8 million from the United States Military. The order is comprised of dozens of Multi-Mission Hemispheric Radars, also known as MHRs. The radars will be used by a key US military force, providing it with air surveillance with emphasis on counter-UAV with the most advanced on-the-move capabilities. RADA will fulfill the order before the end of 2017 which will boost its short term numbers.

RADA’s CEO Dov Sella said “This is a true breakthrough and highly significant order for RADA. Furthermore, strategically, it is our first delivery to a key US military customer, with potential for further orders down the road”. Sella is likely to be right, because RADA’s products are of high quality and having the biggest customer of the world trusting your company puts them in great position.

Current I Know First subscribers received this bullish RADA forecast on August 17th, 2017. 

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.