Long Position on TMHC @ $35.50 on 2/1/2023 (Momentum)

Taylor Morrison Home Corporation (TMHC) operates as a public homebuilder in the United States. Stockwinners

The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities.

It also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.

In addition, the company operates under the Taylor Morrison, William Lyon Signature, and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Nevada, North and South Carolina, Oregon, Texas, and Washington. 

Shares are in the process of breaking out of their bullish "cup and handle" formation. The company is scheduled to report it's results on February 15th. On October 26th, TMHC reported 3rd Quarter September 2022 earnings of $2.72 per share on revenue of $2.0 billion. The consensus earnings estimate was $2.50 per share on revenue of $2.2 billion. Revenue grew 9.5% on a year-over-year basis. Higher share prices are expected.

 

  • Entry Point: $35.50
  • Stop Loss: $33.00
  • Trading Range: $20.05 - $35.80
  • Target Price: $40.20

Position closed on 3/8/2023 at price of $36.10 with a 1.69% gain in 35 days.

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