Long Position on SWCH @ $19.00 on 5/28/2020 (Momentum)

Switch, Inc. (SWCH), through its subsidiary, Switch, Ltd., provides colocation space and related services primarily to technology and digital media companies in the United States.

It develops and operates data centers in Nevada and Michigan. The company also serves cloud and managed service providers, financial institutions, IT and software providers, government agencies, network and telecommunications providers, and others that conduct critical business on the internet. 

Switch reported 1st Quarter March 2020 earnings of $0.04 per share on revenue of $128.1 million. The consensus earnings estimate was $0.05 per share on revenue of $124.1 million. Revenue grew 19.7% on a year-over-year basis.

The company said it continues to expect 2020 revenue of $507.0 million to $521.0 million. The current consensus estimate is revenue of $514.8 million for the year ending December 31, 2020.

The chart's upward trading channel suggests that the company should continue to see an increase in stock price.

Entry point: $19.00

52-week trade range: $10.30 - $19.56

Stop/Loss: $18.00

Target Price: $21.00

Updates

12/30/2020 1:03:33 PM

Closed at $16.25

Position closed on 12/30/2020 at price of $16.25 with a -14.47% loss in 216 days.

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