ORNUSDTI'm adding to my ORN trade here, chart looks very bullish and has just had a cool off period. I am very bullish on this project but unfortunately didn't enter early enough so this is a swing trade not a long term hold.
Orion
$OESX Orion Energy Systems Inc: Buy On Dips Down To $2.15Shares of Orion Energy Systems Inc $OESX on the NASDAQ have been on a tear in 2019. So far, the stock is up by 359% after starting the year around the $.60 level. Since then, it's been a steady climb up the ladder. After hitting $3.03 last week, the stock has pulled back and we are buyers down to $2.15 a share. If we break $2.15, then we will have done some serious chart damage and the uptrend will have been broken.
$OESX is the leading provider of enterprise-grade LED lighting solutions. The stock made new highs after the company reported Q4 earnings results. The highlights were that the company reported Q4’19 revenue rose 49% to $22.4M and it secured $110M in turnkey LED retrofit projects from a national customer with completion anticipated by the end of FY 2020.
What really got the market excited though was the 2020 outlook. Orion has set an initial FY 2020 revenue goal of $135M to $145M, representing growth of 100% to 120% over FY 2019. Orion expects to achieve an EBITDA margin of at least 10%, as well as positive net income and EPS, for the full year FY 2020.
$OESX is a stock that should be on everyone' trading screen. Both the technicals and fundamentals suggest that this bull run is not over yet.
As always, trade with caution and use protective stops.
Good luck to all!
