Long Position on COCO @ $28.50 on 6/13/2023 (Momentum)

The Vita Coco Company, Inc. (COCO) develops, markets, and distributes coconut water products under the Vita Coco brand name in the United States, Canada, Europe, the Middle East, and the Asia Pacific. 

The company offers coconut oil and coconut milk; Hydration Drink Mix, a powdered form of flavored coconut water; sparkling water; Runa, a plant-based energy drink; purified water under the Ever & Ever brand name; and PWR LIFT, a protein-infused fitness drink.

It distributes its products through club, food, drug, mass, convenience, e-commerce, and foodservice channels. In addition, the company supplies coconut water and coconut oil categories to retailers. 

Shares have formed a bullish "flag" and are expected to move higher from this formation.

Last Trade: $28.50

Trading Range: $7.39 to $28.70

Stop Loss: $27.00

Target Price: $31.30

Position closed on 7/7/2023 at price of $27.00 with a -5.26% loss in 24 days.

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