Long Position on FLEX @ $24.35 on 2/3/2023 (Momentum)

Flex Ltd. (FLEX) provides design, engineering, manufacturing, and supply chain services and solutions to original equipment manufacturers. Stockwinners

It operates through three segments: Flex Agility Solutions (FAS), Flex Reliability Solutions (FRS), and Nextracker.

The company provides cross-industry technologies, including human-machine interface, internet of things platforms, power, sensor fusion, and smart audio.

It also offers integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects.

In addition, the company provides value-added design and engineering services; and systems assembly and manufacturing services that include enclosures, testing services, and materials procurement and inventory management services.

Further, it offers chargers for smartphones and tablets; adapters for notebooks and gaming systems; power supplies for the server, storage, and networking markets; and power solutions, such as switchgear, busway, power distribution, modular power systems, and monitoring solutions and services. 

On January 25th, FLEX reported 3rd Quarter December 2022 earnings of $0.57 per share on revenue of $7.8 billion. The consensus earnings estimate was $0.55 per share on revenue of $7.4 billion. Higher share prices are expected.

 

Entry Point: $24.35

Stop Loss: $22.50

Trading Range: $13.63 - $25.12

Target Price: $26.75

Position closed on 2/22/2023 at price of $22.50 with a -7.60% loss in 19 days.

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