Eversource Energy is the largest utility in the New England area of the north-eastern US. It provides electric, natural gas, and water services to some 4 million customers in Massachusetts, Connecticut, and New Hampshire. Eversource Energy is very active in developing renewable energy solutions, a potential area of growth given the New England region’s strict emissions and green energy standards. Electricity demand is expected to grow due to population growth, electric vehicles, and a possible transition from natural gas and oil-based heating to electric heating. The long-term prospects of Eversource Energy look positive.

The Long term monthly chart for Eversource Energy shows a steady uptrend since 2010. The price accelerated faster from 2018 to early-2020 before the pandemic broke, and the prices went below the bottom of the long-term trend in March 2020. However, the prices have recovered since then and most recently have bounced up from the bottom of the long-term trend after falling from $89 to $79. A long position with a target of $88-$92 can be initiated. The minimum stop loss can be the low of the March 2021 candle at $76.5.

Position entered into our long-term tracking portfolio today. The entry point is at $85.05 and stop-loss $69.68, which is 18% below the entry point. The short-term to medium take profit at the top of the trend is set at $100.22, giving a profit of 18%.