Long Position on RVLV @ $71.00 on 8/3/2021 (Momentum)

Revolve Group, Inc. (RVLV) operates as an online fashion retailer for consumers in the United States and internationally.

The company operates through two segments, REVOLVE and FORWARD. 

It operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands.

The company provides women's apparel, footwear, accessories, and beauty styles under established and emerging brands, as well as owned brands.

It also offers various luxury brands. The Forward segment provides luxury products. 

Shares have formed a bullish "wedge" ahead of its quarterly results on August 4th.  On May 6th, Revolve Group  reported 1st Quarter March 2021 earnings of $0.30 per share on revenue of $178.9 million. The consensus earnings estimate was $0.13 per share on revenue of $156.5 million. Revenue grew 22.5% on a year-over-year basis.

Entry Point:  $71.00

Trading Range: $16.02 - $73.38

Stop Loss: $67.50

Target Price: $78.10

Position closed on 8/5/2021 at price of $67.40 with a -5.07% loss in 2 days.

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