NEW BULLISH Plays
Trex Co. - TREX - close: 34.69 change: +0.52
Stop Loss: 33.70
Current Gain/Loss: unopened
Entry on October xx at $ xx.xx
Listed on October 23, 2012
Time Frame: exit prior to the Nov. 1st earnings report
Average Daily Volume = 229 thousand
New Positions: Yes, see below
Why We Like It:
TREX manufacturers building materials, especially decking materials. Shares held up very well today during the market's sell-off. Traders bought the dip at the stock's rising 30-dma and TREX outperformed with a +1.5% gain. Now TREX is on the verge of breaking out past resistance.
Shares have resistance near $35.00. I am suggesting a trigger to open bullish positions at $35.15. We'll start with a stop under today's low. Our target is $38.50 but if shares don't move fast enough then we will plan on exiting prior to the November 1st earnings report.
Trigger @ 35.15
Suggested Position: buy TREX stock @ (trigger)