Market had its correction for the week.
It was still a healthy correction with price closing above the 15 MA line. The bear tried to push it down further but could not overcome the bull resiliency.
The winner of the day in my port is $HYGS. Price went ballistic and rallied 17.6% for the day.
With today rally, price took out the $20 as well as the 79 & 89 MA resistances. The chart is very bullish with the next resistance being $23 established in early May. Once that resistance is taking out, next resistance is at $28.75 established in late March. Yes, it won’t be a straight line going up; however, positive earnings outlook coming soon in July 30th may propel price to take out these resistances easily. I’m holding thru earnings, of course.
Fundamentally speaking, for those who are curious about today price rally, Hydrogenics has proven itself to be leader in Power-to-Gas energy storage system by being selected as a Preferred Respondent by the Independent Electricity System Operator (IESO) for Ontario in its procurement for Grid Energy Storage. On top of this project, Hydrogenics “have already experienced the positive impact of having a highly visible reference site with E.ON in Germany” (excerpt from article in above link).
Power-to-Gas is one of Hydrogenics main products and solutions being offered. And this part of the business has only just begun. As more and more cities and countries begin to see the validity of the Power-to-Gas energy storage concept, Hydrogencis will be getting calls. Here is the beauty of Hydrogenics Power-to-Gas energy storage system, “it integrates renewable sources of generation, converts surplus electricity to produce hydrogen or renewable gas, and leverages the attributes of the existing natural gas infrastructure.”
Now, you know why I’m holding this one for a long-long time. $HYGS is my make-up for the missed $LNG trade in which I bought at $3 and sold at around $7 or $8 and missed the whole ride to current $75+.
I was fortunate to have $HYGS spectacular rally today ’cause my other six stocks were down along with the general market with $DMRC leading the charge. Hence, my port was down only 0.3% and YTD losses is at 2.9%.
Like I said, all I need is a minimum of one of the seven stocks to have a knock-out rally before year-end to give me a positive year. We still have the five months before the year is up.
LRAD, DMRC, HYGS, STV, KGJI, ORBC, AMRN (100% invested/speculated).
From my other account:
I daytraded $KNDI today with a small gain. While I originally bought for a longer-term hold, I changed my mind when I saw my gain becoming smaller in late afternoon.
My 2 cents.