Long Position on GMS @ $32.00 on 3/7/2017 (Momentum)

GMS Inc. (GMS) distributes wallboards, suspended ceilings systems, and complementary interior construction products in North America.

It offers wallboard products; and ceilings product line consists of suspended mineral fibers, soft fibers, and metal ceiling systems primarily used in offices, hotels, hospitals, retail facilities, schools, and other commercial and institutional buildings.

The company also distributes steel framing products, including steel tracks, studs, and various other steel products used to frame the interior walls of commercial or institutional buildings; and insulation, ready-mix joint compound, and various other interior construction products, as well as ancillary products, such as tools and safety products.

It markets and sells its products through a network of branches and distribution centers to the interior contractors of commercial and residential buildings, as well as home builders. 

Shares have formed a bullish "cup and handle" ahead of the company's earnings report on March 9th. Higher share prices are expected for this stock.

52-Weeks Trading Range: $19.28 - $33.73

Entry Point: $32.00

Stop Loss: $30.40

Target Price: $35.20

Updates

3/28/2017 10:36:09 AM

GMS closed at $34.91

Position closed on 3/28/2017 at price of $34.91 with a 9.09% gain in 21 days.

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