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%.
On the video and images above you will see the reason this stock was selected.
You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.
Once it is time to move the original stop loss up you will see an additional image.