Long Position on MTH @ $51.30 on 5/7/2013 (Momentum)

Meritage Homes Corporation (MTH) engages in designing and building single-family detached homes.

It offers a range of homes for various homebuyers, including first-time, move-up, active adult, and luxury. The company provides its homes under the Meritage Homes and Monterey Homes names. It also offers title insurance and closing/settlement services for its homebuyers. The company operates in 158 communities in Arizona, Texas, California, Nevada, Colorado, Florida, and the Carolinas.

Shares have formed a bullish "flag" and higher prices are expected for this stock.

52-Week Trading Range: $25.02 - $51.86

Entry Point:  $51.30

Stop Loss:  $48.85.

Target Price: $56.50

Updates

5/29/2013 1:18:28 PM

MTH fell below our stop loss. The position was closed at $48.71.

Position closed on 5/29/2013 at price of $48.71 with a -5.05% loss in 22 days.

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