Long Position on FLNG @ $33.00 on 4/11/2023 (Momentum)

Flex LNG Ltd. (FLNG), together with its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. 

The company owns and operates vessels with M-type electronically controlled gas injection LNG carriers; and vessels with generation X dual fuel propulsion systems. It also provides chartering services.

Flex LNG Ltd. was incorporated in 2006 and is based in Hamilton, Bermuda.

Flex LNG Ltd. reported Quarter December 2022 earnings of $1.02 per share on revenue of $97.9 million. The consensus earnings estimate was $0.64 per share on revenue of $91.7 million. Revenue fell 14.5% compared to the same quarter a year ago.

Please note, this stock reports earnings on May 16th.

As several members of Congress have bought into this stock, share prices should be on the upwards rise. See the double bottom formation.

Entry Point: $33.00

Trading Range: $23.25 to $38.24

Stop Loss: $31.35

Target Price: $36.25

Position closed on 5/17/2023 at price of $31.35 with a -5.00% loss in 35 days.

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