AAON — Trading Ideas on TradingView

AAON Update – Potential Bullish Double Bottom!📈 NASDAQ:AAON Update – Potential Bullish Double Bottom! 🚀 👀 NASDAQ:AAON has formed a potential Double Bottom pattern, which is typically bullish. 🔑 If the price breaks out above the red resistance zone, it could trigger a move to fill the gap (potential 12% target) and reach the green line levels! Keep a close eye on NASDAQ:AAON for a potential breakout!

AAON Inc Reports Record Net Sales and Gross Profits AAON Inc (NASDAQ:AAON) reports a 28.6% increase in net sales for Q3 2023, reaching $312.0 million. Gross profit margin for the quarter rose to 37.2%, up from 27.0% in Q3 2022. Net income for the quarter was $48.1 million, a 75.0% increase compared to the prior year quarter. AAON's backlog at the end of Q3 2023 was $490.6 million, down 4.7% from $514.7 million a year ago. AAON Inc (NASDAQ:AAON), a leading provider of HVAC solutions, announced its third-quarter results for 2023 on November 6, 2023. The company reported record net sales and gross profits for the second consecutive quarter, with all three segments performing well. The AAON Oklahoma and BASX segments saw robust double-digit organic net sales growth and record gross profits, while the AAON Coil Products segment recorded its highest profits over the last four quarters. Financial Highlights Net sales for the third quarter of 2023 increased by 28.6% to $312.0 million, up from $242.6 million in the third quarter of 2022. This marks the seventh straight quarter of record sales in the company's history. The gross profit margin for the quarter increased to 37.2%, up from 27.0% in the same quarter in 2022 and up from 33.1% in the previous quarter. Net income for the quarter was $48.1 million, an increase of $20.6 million or 75.0% compared to the prior year quarter. Performance Analysis AAON's strong performance in the third quarter was driven by improved productivity across all three segments, incremental pricing, and improved overhead absorption. The company's manufacturing teams improved the efficiency of operations while continuing to add production capacity. Supply chain disruptions, which had been a concern in previous quarters, continued to abate, contributing to the rising production rates. Backlog and Future Outlook The company finished the third quarter of 2023 with a backlog of $490.6 million, down 4.7% from $514.7 million a year ago, and down from $526.2 million at the end of the second quarter of 2023. Despite the decrease in backlog, AAON remains optimistic about the future. The company anticipates that upcoming new refrigerant regulations will disrupt the industry in 2024, which AAON views as a positive opportunity to gain market share. Financial Position As of September 30, 2023, the company had cash, cash equivalents, and restricted cash of $22.5 million and a balance of $78.4 million on the revolving credit facility. The company's balance sheet remains strong with a current ratio of 3.0 and a leverage ratio of 0.33. Price Momentum AAON is trading in the middle of its 52-week range and near its 200-day simple moving average. What does this mean? Investors are still evaluating the share price, and the stock is still trying to generate some momentum. This is a Positive sign for the stock's future value.

AAON - Channel Breakout Attempt Price is attempting to break out of a large channel in grey. Price can also be seen to form a nice rounded inverted H&S pattern. This could lead to a strong breakout, further out of the channel. I have drawn some smaller channels on chart for enjoyment.

🟩 $AAON - great move from watchlist Linking to my idea from 25 FEB - AAON has moved great on +500% Volume increase at the highest volume in the last 2 years. Lets see how hte follow through action would look

AAON at epic opportunity NASDAQ:AAON Just noticed this stock and this great opportunity. those position I like the most because you catch them at the start and can take high profit from just solid trend. I have multiply reason to buy this stock: Uptrend - this stock keeps going up few months now, just move up your stop command once in several weeks, and its a great profit. very strong support level - as you can see, the support level gave me confident along this year so now after it send this stock back up, I am pretty sure this is going up this time too. Perfect channel - the channel stayed storng since the COVID-19 came to our life, so I can realy lean on it. Ensure candle - just saw the stocks signals that is going up according to the 3 points above, so I realy trust it. I will put my position with 'take profit' at the top of the channel, and my stop not that far down. If it will stay that solid I probebly will come to another money maker from that stock. Of course, trading this stock is by your own risk. keep trade well.

AAON Breakout to All-Time High In this chart we're looking at AAON on the 1D chart as price has consolidated into a rectangle. Price has broken out through the horizontal boundary at $52.50 and has confirmed the breakout by breaking through the $53.29 area. This rectangle has a price target of around $61.67 for about a ~17.5% gain. This chart pattern breakout is occurring above the 200EMA, so the probability for price continuing to the upside is even higher. If you would like to see more of these ideas on a regular basis, follow me as I will be posting many more exciting chances to earn on chart pattern breakouts this upcoming year! Drop a like or comment if you found this idea informational or helpful in any way! Cheers!

Going Long on AAON this week AAON found support on both the Tenkan-sen / conversion line and heading to break through both the Senkou-Span A and B lines. Entering long this week and based on price action possibly short in a week or 2 as it most likely gravitate back to the Tenkan-sen / conversion line.