Long Position on DY @ $108.00 on 5/8/2017 (Momentum)

Dycom Industries, Inc. (DY) provides specialty contracting services in the United States and Canada.

The company offers a range of specialty contracting services, such as engineering, construction, maintenance, and installation services comprising placement and splicing of fiber, copper, and coaxial cables to telecommunications providers.

It also provides underground facility locating services, including locating telephone, cable television, power, water, sewer, and gas lines to various utilities, which comprise telecommunications providers. In addition, the company offers tower construction, lines and antenna installation, and foundation and equipment pad construction services for wireless carriers, as well as equipment installation and material fabrication, and site testing services; and installs and maintains customer premise equipment, such as digital video recorders, set top boxes, and modems for cable television system operators.

Further, it performs construction and maintenance services for electric and gas utilities, and other customers. Shares have formed a bullish "flag" and higher share prices are expected for this stock. Note that the formation is supported by the stock's 30-day moving average.  

52-Weeks Trading Range: $67.43 - $109.65 

Entry Point: $108.00

Stop Loss: $102.20

Target Price: $119.00

Updates

5/24/2017 9:39:22 AM

DY closed at $93

Position closed on 5/24/2017 at price of $93.00 with a -13.89% loss in 16 days.

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