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.
To learn more about swing trading strategies, stock market trading, and how to trade cryptocurrencies, visit my course page.
Full Disclosure: I currently own TH.
Disclaimer: This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this post constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog or the associated Twitter and Instagram feeds. The stock or stocks presented are not to be considered a recommendation to buy any stock or stocks. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.