ORGN trade ideas
$ORGN Long Play. C02 Tax Credit PlayPotential Opportunity regarding the new Carbon Credit ESG Tax benefits.
As most of you probably know, new tax regulations are being rolled out that incentivize carbon emission neutrality and many companies are jumping on the opportunity. (See Jpmorgan Purchasing massive swathes of timber forest land)
Origin is the world's leading carbon negative materials company. Our mission is to enable the world’s transition to sustainable materials. Therefore this offers a unique opportunity to be able to cash in on the benefits of these new tax credits without breaking the bank by buying forest land.
Current Target Projections are listed in the illustration. I am keeping a fairly tight stop loss but this isn't necessary if you plan on holding longer term.
ORGN ready for another leg upNASDAQ:ORGN is breaking out and ready for another leg up. Long with stop daily close below 50 ma, target shown on the chart.
Origin Materials | ORGN | Short to the $5sOrigin Materials ( NASDAQ:ORGN ). Based purely on technical analysis, this looks a little weak at its currently level. If the market corrects soon, I anticipate this to follow and go below $6. Using the volume profile, there is support near $5.35 (then down to the support lines). In the near-term, this may be a good short below $6, but if the market melts-up, it may move quickly with it.
Above the dotted blue line before a dip, thesis breaks.
ORGN - Textbook Bullish setup for rest of March and April 2022Best Case Scenario: Comes to retest this resistance by March 25 and breaks above with high volume
Worst Case Scenario: The Price gets rejected on this raising channel resistance and struggles to break above
