AZEK is a a fairly new IPO. As you can see on my chart I've pointed out the IPO base and a couple breakouts that ended up shaking a lot of people out.I missed my entry on this yesterday on the short term trend line breakout. I do however, like the follow thru today so I've added a position. You can see my entry and very tight stop. It either proves itself to me as a winner or I'm out quickly. Ideas, not investing / trading advice.
AZEK reported earnings and beat consensus estimates but missed the earnings whisper number. They also guided higher on revenue.
From Earnings Whisper: The Azek Company Inc Cl A (AZEK) reported 1st Quarter December 2020 earnings of $0.14 per share on revenue of $212.3 million. The consensus earnings estimate was $0.10 per share on revenue of $210.9 million. The Earnings Whisper number was $0.16 per share.
The company said it expects fiscal 2021 revenue of $1.025 billion to $1.06 billion. The company's previous guidance was revenue of $989.2 million to $1.025 billion and the current consensus revenue estimate is $1.02 billion for the year ending September 30, 2021.
Trade chiuso: stop raggiunto
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Got stopped this morning early as I have a hard stop on this. Idea is still valid if the market improves and it does not continue down trend.