Long Position on AWI @ $86.90 on 4/23/2019 (Momentum)

Armstrong World Industries, Inc. (AWI) designs, manufactures, and sells ceiling systems primarily for use in the construction and renovation of residential and commercial buildings in the United States, Canada, and Latin America.

The company operates through Mineral Fiber and Architectural Specialties segments.

The company produces suspended mineral fiber, soft fiber, fiberglass wool, and metal ceiling systems; ceiling perimeters and trims, as well as grid products that support drywall ceiling systems; ceilings and walls for use in commercial settings; and acoustical and architectural cast ceilings, walls, facades, columns and moldings, and structural solutions.

Armstrong World Industries, Inc. sells its commercial ceiling and architectural specialties products to resale distributors and ceiling system contractors; and residential ceiling products to wholesalers and retailers, such as large home centers. The company report its quarterly results on April 29th. This is how the last report was:

Armstrong World Industries (AWI) reported 4th Quarter December 2018 earnings of $0.80 per share on revenue of $238.9 million. The consensus earnings estimate was $0.84 per share on revenue of $239.0 million. 

Shares have formed a bullish "cup and handle" and are on the cusp of a breakout. Higher share prices are expected for this stock.

Entry Point: $86.90

Stop  Loss: $82.50

Trading Range: $54.34 - $87.19

Target Price: $95.60

Updates

6/7/2019 3:01:09 PM

AWI closed at $95.00

Position closed on 6/7/2019 at price of $95.00 with a 9.32% gain in 45 days.

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