I find it hard to believe that this (fairly newly) listed green energy backing company has suffered such a beating - even with the Global Pandemic.
There has been almost all positive news since inception and a series of growth figures and contract wins that quite frankly put a number of considerably larger companies in the sector to shame. With everyone trying to offset their carbon footprint there's not only a massive market for green energy, but also for installation and ongoing maintenance too.
I've added two trade options to this one as we bounce off the longterm support line, for what I hope will be the last time. I've also added a rough idea how long I expect each to mature, but one good RNS and it could be a lot sooner.
Trade 1 looks to take a 6.46 R/R Ratio for a return back to the 0.382 fib line (I'm thinking around mid-late September for targets to be hit & a healthy near 100% return with my target below the magic £1 resistance.)
Trade 2 looks for a 6.16 R/R Ratio with a much lower S/L (as we all know how AIM S/L hunts go) but with a much healthier return to the 0.618 fib line & a near 200% return. I'm expecting this to play out by the end of Q1 2022.
For both trades I'll be looking to recoup investment at the target point, so free shares to carry forwards.
For Trade 2 I'll also be looking to take a 50% cash profit - ready for the next opportunity.
As for the rest, it's a company I believe has a solid future ahead, so I'll be adding the extra shares to my portfolio for the long term (to go with the ones I've bought over the last 3 years).
I hope you like the idea - don't forget to give it a thumbs up if you agree, and feel free to leave a comment if you don't, or why not take a look through some of my other ideas - (VLS has been very good to me & I recently posted a new idea on that too)
Look at the interest ITM has received over the last year or so, massively volatile but a great one to trade. TGP is one on my watchlist and I need to spend a bit more time on it.