Long Position on TOL @ $79.00 on 8/7/2023 (Momentum)

Toll Brothers, Inc. (TOL) designs, builds, markets, sells, and arranges finance for a range of detached and attached homes in luxury residential communities in the United States. 

It also designs, builds, markets, and sells condominiums through Toll Brothers City Living.

In addition, the company develops a range of single-story living and first-floor primary bedroom suite home designs, as well as communities with recreational amenities, such as golf courses, marinas, pool complexes, country clubs, and fitness and recreation centers; develops and sells land; and develops, operates, and rents apartments, as well as provides various interior fit-out options, such as flooring, wall tile, plumbing, cabinets, fixtures, appliances, lighting, and home-automation and security technologies.

Further, it owns and operates architectural, engineering, mortgage, title, insurance, smart home technology, landscaping, lumber distribution, house component assembly, and manufacturing operations.

The company serves first-time, move-up, empty-nester, active-adult, and second-home buyers. Shares are headig higher in an upward trading channel which is supported by the stock's 50-day moving average. On May 23rd, TOL reported earnings of $2.85 per share on revenue of $2.51 billion for the fiscal second quarter ended April 2023. The consensus earnings estimate was $1.89 per share on revenue of $2.06 billion. The company beat expectations by 40.39% while revenue grew 10.07% on a year-over-year basis. Next earnings report is on August 22.

Entry Point: $79.00

Stop Loss: $75.00

Trading Range: $39.53 - $83.72

Target Price: $86.00

Position closed on 9/3/2023 at price of $84.00 with a 6.33% gain in 27 days.

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