Long Position on MOD @ $45.75 on 10/2/2023 (Momentum)

Modine Manufacturing Company (MOD) provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. 

It operates through Climate Solutions and Performance Technologies segments.

The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units.

It also provides heat recovery, round tube plate fin, and motor and generator cooling coils; evaporator unit, fluid, transformer oil, gas, and dry and brine coolers, as well as remote condensers; and coatings to protect against corrosion.

In addition, the company offers powertrain cooling products, including engine cooling modules, radiators, charge air coolers, condensers, oil coolers, fan shrouds, and surge tanks; on-engine cooling products comprising exhaust gas recirculation, engine oil, fuel, and charge air coolers; liquid-cooled products, such as engine oil, EGR, liquid charge air, transmission and retarder oil, fuel coolers, and condensers; and complete battery thermal management systems and electronics cooling packages.

Shares are heading higher in an upward trading channel. The lower boundary of the channel coincides with the stock's 50-day moving average.  Higher share prices are expected.

Entry Point: $45.75

Stop Loss: $43.00

Trading Range: $12.98 - $49.60

Target Price: $50.00

Position closed on 10/10/2023 at price of $50.50 with a 10.38% gain in 8 days.

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