Long Position on AZUL @ $37.20 on 8/22/2019 (Momentum)

Azul S.A. (AZUL) provides passenger and cargo air transportation services in Brazil.

As of December 31, 2018, it operated 821 daily flights to 110 destinations through a network of 220 non-stop routes with a fleet of 125 aircraft.

The company was incorporated in 2008 and is headquartered in Barueri, Brazil.

Two weeks ago, Azul S.A. (AZUL) reported 2nd Quarter June 2019 earnings of $0.78 per share on revenue of $667.7 million. The consensus earnings estimate was $0.09 per share on revenue of $659.6 million. Revenue grew 18.7% on a year-over-year basis.

Shares are heading higher in an upward trading channel. Presently, shares are at the lower boundary of the channel. Note the 50-day moving average shown in brown. Higher share prices are expected. 

Entry Point: $37.20

Stop Loss: $35.30

Trading Range: $15.60 to $43.1356

Target Price: $41.00

Updates

10/24/2019 2:18:50 PM

AZUL closed at $39.51

Position closed on 10/24/2019 at price of $39.51 with a 6.21% gain in 63 days.

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