B2UR34 trade ideas
BURLINGTON BLASTS PAST ESTIMATES.The Burlington, N.J.-based company said it had net income of $85 million, or $1.26 a share, in the quarter, up from $70.9 million, or $1.03 a share, in the year-earlier period. Adjusted per-share earnings came to $1.36, well ahead of the $1.14 FactSet consensus. Sales rose to $1.662 billion from $1.505 billion, also ahead of the FactSet consensus of $1.631 billion. Same-store sales rose 3.8% to top the 2.7% FactSet consensus. The company said it now expects fiscal 2019 sales growth of 8.8% to 9.3%, assuming same-store sales rise 2.0% to 2.5%. It expects adjusted EPS to range from $7.14 to $7.22, compared with a current FactSet consensus of $6.99.
Average Recommendation OVERWEIGHT
Average Target Price: 181.39
COMPANY PROFILE
Burlington Stores, Inc. offers selection of in-season, fashion-focused merchandise, including: women's ready-to-wear apparel, accessories, footwear, menswear, youth apparel, baby, home, coats, beauty, toys and gifts. The company was founded in 1972 and is headquartered in Burlington, NJ.
BURL Long Trade on Consolidation BreakNo trade yet.
Stock in strong uptrend.
Watching for upside break of small consolidation, and then a break to new highs.
Decent reward to risk of about 2.75:1...Can also use a trailing stop loss.
Target is based on catching the next major thrust only, as the price then tends to consolidate for a while.
Trade only considered if the stock breaks higher.
If price breaks lower, no trade...yet.
Disclosure: Not Trade Yet.
BURL - Rising wedge breakdown short from $89.73/$84.33 to $70.23BURL broken down from a long term rising wedge, retested the support line & falling down again. We think it has good downside potential.
However we are looking for 2 entry potential, first if it pull back to $89.73 or break down $84.33
* Trade Criteria *
Date First Found- July 25, 2017
Pattern/Why- Rising wedge breakdown short
Entry Target Criteria- Rallies to $89.73 or Drop below $84.33
Exit Target Criteria- $70.23
Stop Loss Criteria- $94.27 or $91.13
Please check back for Trade updates. (Note: Trade update is little delayed here.)