Long Position on GXO @ $88.50 on 10/29/2021 (Momentum)

GXO Logistics, Inc. (GXO) provides supply chain management solutions for multinational companies and blue-chip market leaders worldwide. 

It serves consumer packaged goods, ecommerce, food and beverage, retail, technology, and consume electronic industries.

The company was incorporated in 2021 and is based in Greenwich, Connecticut.

GXO Logistics, Inc. operates independently of XPO Logistics, Inc. as of August 2, 2021. Shares of this recent IPO are in the process of breaking out of their bullish "cup and handle" and higher share prices are expected for this company. 

Note that the company is scheduled to report its quarterly results on November 2, next Tuesday.

Entry Point: $88.50

Stop Loss: $84.00

Trading Range: $61.05 - $91.61

Target Price: $97.35

Updates

11/29/2021 1:32:09 PM

GXO closed at $101.40

Position closed on 11/29/2021 at price of $101.20 with a 14.35% gain in 31 days.

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