Long Position on FOR @ $28.00 on 9/13/2023 (Momentum)

Forestar Group Inc. (FOR) operates as a residential lot development company in the United States. 

It acquires land and develops infrastructure for single-family residential communities.

It sells its residential single-family finished lots to local, regional, and national homebuilders. Forestar Group Inc. is a residential lot development company with operations in 52 markets and 22 states.

Forestar Group Inc. is a subsidiary of D.R. Horton, Inc. On July 20th, FOR reported earnings of $0.93 per share on revenue of $368.90 million for the fiscal third quarter ended June 2023. The consensus earnings estimate was $0.64 per share on revenue of $287.50 million. The company beat consensus estimates by 45.31% while revenue grew 19.58% on a year-over-year basis. The next report is due Octobber 19th.

Shares are heading higher in an upward trading channel that is supported by the stock's 50-day moving average.

Entry Point: $28.00

Stop Loss: $26.50

Trading Range: $10.28 to $31.42

Target Price: $30.80

Position closed on 10/12/2023 at price of $26.50 with a -5.36% loss in 29 days.

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