Long Position on RDFN @ $20.45 on 11/21/2019 (Momentum)

Redfin Corporation (RDFN) operates as a real estate brokerage company in the United States.

The company operates an online real estate marketplace and provides real estate services, including assisting individuals in purchase or sell their residential property.

It also provides title and settlement services; originates and sells mortgages; and buys and sells residential properties. Redfin Corporation has a strategic alliance with RE/MAX Holdings, Inc. 

On November 6th, Redfin reported 3rd Quarter September 2019 earnings of $0.07 per share on revenue of $238.7 million. The consensus earnings estimate was $0.04 per share on revenue of $230.1 million. Revenue grew 70.2% on a year-over-year basis.

The company said it expects fourth quarter revenue of $211.0 million to $220.0 million. The current consensus revenue estimate is $191.7 million for the quarter ending December 31, 2019. Following the report, shares have formed a bullish "flag" and are expected to move higher from this formation.

Last Trade: $20.45

Trading Range: $13.565 to $23.47

Stop Loss: $19.40

Target Price: $22.50

Updates

12/24/2019 12:45:35 PM

RDFN closed at $21.55

Position closed on 12/24/2019 at price of $21.55 with a 5.38% gain in 33 days.

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