Long Position on TOL @ $61.50 on 2/2/2023 (Momentum)

Toll Brothers, Inc. (TOL) designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. Stockwinners

It also designs, builds, markets, and sells condominiums through Toll Brothers City Living.

In addition, the company develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; develops and sells land; and develops, operates, and rents apartments, as well as provides various interior fit-out options, such as flooring, wall tile, plumbing, cabinets, fixtures, appliances, lighting, and home-automation and security technologies.

Further, it owns and operates architectural, engineering, mortgage, title, insurance, smart home technology, landscaping, lumber distribution, house component assembly, and manufacturing operations. The company serves first-time, move-up, empty-nester, active-adult, and second-home buyers. 

Shares are breaking out of their bullish "cup and handle" and higher share prices are expected. On December 6th, TOL reported Quarter October 2022 earnings of $4.67 per share on revenue of $3.7 billion. The consensus earnings estimate was $3.88 per share on revenue of $3.2 billion. Revenue grew 22.1% on a year-over-year basis. The company reports on February 21.

 

  • Entry Point: $61.50
  • Stop Loss: $58.00
  • Trading Range: $39.53 - $63.19
  • Target Price: $67.75

Position closed on 2/21/2023 at price of $58.00 with a -5.69% loss in 19 days.

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