TH Sets Up In A High Tight Flag
Target Hospitality, TH, is setting up in a high tight flag pattern. I initially purchased this stock earlier this year, only to be stopped out as TH fell lower. I've been keeping TH on my watchlist due to both its' tremendous technical and fundamental action. Target Hospitality has delivered triple digit earnings growth in each of its' last four quarters. In addition, it is estimated to produce strong annual earnings in 2023.
TH's chart is what stands out the most, however. Any stock holding up near new highs as we potentially enter a new market will always be on my watchlist as a possible leading stock. I really love the fact that TH more than doubled in one month and since then has held up in a relatively tight manner. The massive volume that came in this July is a good sign of institutional support. I purchased TH this afternoon. I have a stop loss in place to limit my risk.
Risk right. Sit tight.
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Full Disclosure: I currently own TH.
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