Long Position on FOXF @ $37.50 on 8/21/2017 (Momentum)

Fox Factory Holding Corp.  (FOXF) designs, engineers, manufactures, and markets ride dynamics products worldwide.

The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

It also provides mountain and road bike wheels, and other performance cycling components, including cranks, bars, stems, and seat posts, as well as aftermarket products to retailers and distributors. 

Shares are heading higher in an upward trading channel shown in blue. The lower boundary of the channel is supported by the stock's 50-day moving average shown in brown. We expect shares to see a modest pullback today. We will use that as a better entry point. 

The company is expected to report its quarterly results on September 29. Estimates call for EPS of 3 cents of revenue of $124.1 million. Last quarter it reported EPS of 39 cents vs estimates of 36 cents.

Entry Point: $37.50

Stop Loss: $35.40

52-Weeks Trading Range: $18.52 - $39.60

Target Price: $41.05

Updates

8/30/2017 9:44:25 AM

FOXF closed at $39.85

Position closed on 8/30/2017 at price of $39.85 with a 6.27% gain in 9 days.

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