Long Position on BOFI @ $22.25 on 10/21/2016 (Momentum)

BofI Holding, Inc. (BOFI) operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States.

The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts.

It also provides residential single family and multifamily mortgage loans; commercial real estate secured and commercial lending products; specialty finance factoring products; and consumer lending products consisting of prime loans to purchase new and used recreational vehicles and automobiles, as well as deposit-related overdraft lines of credit.

In addition, the company offers prepaid card and refund transfer, debit card or ATM card, portfolio management, online bill payment, money transfer, overdraft protection, mobile banking, and text message banking services.

Shares have formed a bullish "cup and handle" ahead of its earnings on October 27th. Higher share prices are expected for this stock. Estimates call for a profit of 46 cents per share on revenue of $83.8 million.

52-Weeks Trading Range: $13.47 - $26.00

Entry Point: $22.25

Stop Loss: $21.00

Target Price: $24.48

Updates

10/28/2016 11:56:02 AM

BOFI closed at $19.10.

Position closed on 10/28/2016 at price of $19.10 with a -14.16% loss in 7 days.

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