Trex Company Inc. (TREX) has pulled back with the rest of the market this month as traders have been taking profits off the table, but the stock is stabilizing at support.
TREX is being bolstered by better-than-expected new home sales numbers and could start climbing in the run-up to the company's earnings announcement on May 9, after market close.
Set a limit order to buy Trex Company Inc. (TREX) for $90.56 or less.
TREX's share price was $88.88 when the signal was generated on Apr. 25, 2024.
We expect TREX's target price of $91.91 to be reached by May 23, 2024 (21 trading days from today).
Your next steps:
Set a limit order to enter the trade for $90.56 or less.
If the stock reaches the price target within 10 trading days, we may recommend allowing the trade to run further. If market conditions justify a change, we will send you an alert at that time advising you of a new price target and stop loss.
We will not hold this trade any longer than May 23, 2024.
Trade Notes
Now, please be aware that some stocks can be volatile — especially after a recommendation is issued.
If the stock is out of our maximum buy range, we do not recommend chasing the stock. You can use a limit order for our maximum buy price and allow the stock to settle.
We recommend checking out a few of our training videos if you have any concerns about trading. You can learn…
Timing is everything when it comes to these trades, so head to your app store now, download the free TradeSmith app, and enable push notifications… because the next great trade is right around the corner!
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Sincerely,
John Jagerson & Wade Hansen Analysts, Predictive Alpha Prime
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TradeSmith is not registered as an investment adviser and operates under the publishers' exemption of the Investment Advisers Act of 1940. The investments and strategies discussed in TradeSmith's content do not constitute personalized investment advice. Any trading or investment decisions you take are in reliance on your own analysis and judgment and not in reliance on TradeSmith. There are risks inherent in investing and past investment performance is not indicative of future results.
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