Housing is back in the doghouse… But springtime is coming around!
TREX is at ~$66 today, but if COVID is over, so then its PS and PE are too high:
- PS: 6.34 vs 5.00 = 21% downside
- PE: 36.542 vs 30.00 = 18% downside
So, let’s call it 20% downside to go, so $66 --> $52.8
Targets are somewhat arbitrary, but I love directional accuracy and coincidences. 20% seems to be a theme these days in trading…
TREX is at ~$66 today, but if COVID is over, so then its PS and PE are too high:
- PS: 6.34 vs 5.00 = 21% downside
- PE: 36.542 vs 30.00 = 18% downside
So, let’s call it 20% downside to go, so $66 --> $52.8
Targets are somewhat arbitrary, but I love directional accuracy and coincidences. 20% seems to be a theme these days in trading…