Sunnova 30% upsideSunnova has broken out of a 4-year downward trend, marking a significant move to confirm the breakout. The next major resistance level is at $13.70, presenting a potential 30% upside until reaching that point.
NOVA trade ideas
NOVAAlso bought yesterday. My working assumption is the bullish 1-2 fractal - leading diagonal and a flat. If I am right in my forecast, then price has already started the wave 3
Trade safe and DYOR :)
Sunnova (NOVA) Teams Up with Home DepotSunnova Energy International Inc. ( NYSE:NOVA ) has embarked on a transformative journey in the realm of renewable energy with its latest partnership announcement. Teaming up with retail giant The Home Depot, Sunnova ( NYSE:NOVA ) aims to revolutionize the accessibility of solar and battery storage services across the United States. This strategic collaboration not only underscores Sunnova's commitment to expanding its customer base but also highlights the growing significance of solar power in the nation's energy landscape.
Expanding Reach with Home Depot:
The partnership between Sunnova ( NYSE:NOVA ) and Home Depot represents a significant milestone in the journey towards widespread adoption of solar energy solutions. With Sunnova's Adaptive Home energy offerings now available in over 2,000 Home Depot locations, consumers have unprecedented access to cutting-edge solar and battery storage technologies. This expanded reach builds upon the success of previous collaborations between Sunnova and Home Depot, demonstrating a shared commitment to driving innovation and sustainability in the residential energy sector.
Seizing Opportunities in the U.S. Solar Market:
As the United States accelerates its transition towards renewable energy, the solar industry stands at the forefront of this transformation. With favorable market conditions and declining installation costs, solar power has emerged as a key driver of sustainable energy solutions. Sunnova's strategic positioning within this burgeoning market, coupled with its robust customer base and impressive portfolio of solar assets, positions the company for significant growth opportunities in the years ahead.
Competitive Landscape and Peer Comparison:
Sunnova's partnership with Home Depot comes amidst a dynamic competitive landscape within the solar industry. Competitors such as Enphase Energy (ENPH), SolarEdge (SEDG), and Canadian Solar (CSIQ) are also actively pursuing expansion strategies to capitalize on the growing demand for solar energy solutions. However, Sunnova's focus on customer-centric offerings and strategic partnerships sets it apart in an increasingly crowded market, positioning the company for sustainable growth and market leadership.
Market Performance and Outlook:
While Sunnova's ( NYSE:NOVA ) stock performance has faced challenges in the past year, the company's long-term growth prospects remain robust. With a strong foothold in the U.S. solar market and a commitment to innovation and customer satisfaction, Sunnova is well-positioned to capitalize on the growing demand for renewable energy solutions. As the partnership with Home Depot unfolds and Sunnova ( NYSE:NOVA ) continues to expand its reach, investors can expect to see positive momentum in the company's stock performance and overall market presence.
NOVA possible inverse head and shouldersAnybody else buy NOVA? Bought at orange neck line. Grey target line. Black line is all time low. RSI line is broken to the upside as well. Who knows what will happen... Could have resistance at 12.60usd. Stoploss I have at neckline.
Nova (NASDAQ:NVMI) Q3: Beats Revenue ExpectationSemiconductor quality control company Nova (NASDAQ: NVMI) reported results ahead of Q3 FY2023, with revenue down 10.5% year on year to $128.8 million. The company also expects next quarter's revenue to be around $127.5 million, in line with analysts' estimates. Turning to EPS, Nova made a non-GAAP profit of $1.23 per share, improving from its profit of $1.10 per share in the same quarter last year.
Revenue: $128.8 million vs analyst estimates of $123.1 million (4.6% beat)
EPS (non-GAAP): $1.23 vs analyst estimates of $1.09 (13% beat)
Revenue Guidance for Q4 2023 is $127.5 million at the midpoint, roughly in line with what analysts were expecting
Free Cash Flow of $43.13 million, up 106% from the previous quarter
Inventory Days Outstanding: 227, down from 256 in the previous quarter
Gross Margin (GAAP): 56.1%, down from 57.1% in the same quarter last year.
Semiconductor Manufacturing
The semiconductor industry is driven by demand for advanced electronic products like smartphones, PCs, servers, and data storage. The need for technologies like artificial intelligence, 5G networks, and smart cars is also creating the next wave of growth for the industry. Keeping up with this dynamism requires new tools that can design, fabricate, and test chips at ever smaller sizes and more complex architectures, creating a dire need for semiconductor capital manufacturing equipment.
Sales Growth
Nova's revenue growth over the last three years has been very strong, averaging 30.4% annually. But as you can see below, its revenue declined from $143.9 million in the same quarter last year to $128.8 million.
Nova may be headed for an upturn. Although the company is guiding for a year-on-year revenue decline of 15.7% next quarter, we are expecting revenue to grow 4.5% over the next 12 months.
The business is much less risky now than it was in the years after going public. The company is a clear market leader in a huge, growing $200 billion market. Its $7 billion of revenue only scratches the surface. Its products are mission critical. Virtually no customers ever left the company.
Key Takeaways from Nova's Q3 Results
Sporting a market capitalization of $2.91 billion, Nova is among smaller companies, but its more than $116.5 million in cash on hand and positive free cash flow over the last 12 months puts it in an attractive position to invest in growth.
We were impressed by Nova's strong improvement in inventory levels. We were also excited its revenue and EPS outperformed Wall Street's estimates, driven by outperformance in its products and services divisions. On top of that, its EPS guidance for next quarter came in above analysts' expectations. Overall, this was a strong quarter that should satisfy shareholders. The stock is up 2.1% after reporting and currently trades at $103.85 per share.
Sunnova (NSDAQ:NOVA) - Strong BUY according to analystsNYSE:NOVA
Sunnova Energy International (NOVA) offers residential solar and energy storage services in the US. The business describes itself as a pioneer in energy-as-a-service (EaaS), providing long-term leases to clients. Solar panels, battery storage, e-charging stations, generators, and grid services are among its product offerings. It does not provide its own technology, but rather Tesla’s Powerwall, Generac Holdings’ PWRCell battery storage systems, and ChargePoint’s electric vehicle chargers (CHPT). By the end of next year, there will be 400,000 customers, up from the current total of slightly under 247,000. The corporation claims that it can currently service 106 million households.
Citi analysts reiterated a $26 price target on December 15th (Buy). Consumer power prices are on the rise, and support for the recent Inflation Reduction Act, which extended the 30% ITC tax credit for new solar purchases through 2032, should keep things moving in the right direction. By 2025, services per client are anticipated to double due to expanding service options.
Most people who own electric cars also charge them at home. After the price decline, the expert claims that the risk-reward ratio is good at the current level. Sales increased by + 116% in the third quarter compared to Q3-2021, to USD 149.36 million. Sales of solar energy systems and the purchase of SunStreet done last year also contributed to the growth. The loss of -0.54 USD per share was far greater than the -0.22 USD forecast.
Analysts predict that revenue will increase significantly from $503.43 million this year to $1.16 billion by 2025. Due to the lack of profitability thus far, the stock is still considered speculative. It is becoming more challenging to find debt financing for leased equipment due to rising interest rates. Given the sector’s strength, the situation is intriguing for short-term trading strategies.
$NOVA Bullish GartleyNOVA attempting to backtest a historical resistance as support at the pattern completion zone of the Bullish Gartley. Easy 100% upside if we hold this zone as support. This is a solar play, and a long term hold. It would be reasonable to expect this sector to do well in the current climate of the world.
Stocks To WatchMany names are holding up well in this market. Get a pen and paper because I go quickly and make the trade your own.. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 28 total stocks on this list Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
NOVA BOD Type 1NYSE:NOVA
Turtle Strategy BOD Type 1
MA Shade Green = Uptrend
Candlestick= Bullish Engulfing
FiFT BOD Star
Banker 53%
Stop Loss Below 38
3 green soldiers for NOVA tomorrow?NOVA has been picking up momentum. Nice falling wedge breakout, RSI is very bullish, increasing volume along with 2 strong green candles. I think we get one more green candle tomorrow to complete the 3 green soldiers pattern. Short term PT is $41-$43. Be aware of the quarterly options expiration this Friday though, Max pain is above $35 for puts and below $40 for calls. Might get stuck in-between until next week. Cheers to the free market lol.
Khan's Handelskontor - KW 40 - Swing Trade Idea 3 - $NOVASolar/Infrastructure Play. Symmetrical Triangle could be soon a make or break, Got beaten down badly, on recovery and prop. Up for the next leg up. Play with tight SL
NOVA Stock PredictionThe stock has a potential to go up from this point of view. Long position is recommended. Stoploss placement is 30.5$ for me.
Bullish- Inverse H&SSolar sector has shown some nice relative strength compared to the broader markets over the past few weeks- NOVA, Inverse Head and Shoulders formed (Orange Dotted line- Neckline), EMA's all starting to curl upwards, buyer volume picking back up again, MACD cross to close on Friday. Definitely bullish and will be looking for a breakout from here.
Watching NOVA for a potential swingNOVA is looking to leave the downtrend.
Sitting on 50 MA but still under 200 MA
Let's see coming days if it has enough power to go up
Sunnova Energy International 🧙Sunnova Energy International Inc is a residential solar and energy storage service provider company. It offers services such as operations and maintenance, monitoring, repairs and replacements, equipment upgrades and onsite power optimization. The products and services offered by the group include Add-on battery storage, Home solar protection plans, New solar battery storage, and various other solar systems.
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NOVA 52% potential after Elon Musk realization about Nickel"Tesla chief executive Elon Musk has declared nickel supply as a major concern for the company’s battery production"
Source: www.australianmining.com.au
NOVA has currently consolidated to potential bottom levels several days and looks ready for its uptrend
It has the potential to reach its previous all time high for a nice 52% gain
Stop loss as shown in the figure
Thanks for your likes and happy trading
Sunnova Energy International: goal activated to 74$
Interesting goal for this stock by Fibonacci: 74$. Nice technical aspect.
#novaNova after the breakout of the acending traingle its on the retetest of it now looking for a move higher it it does indeed bounce here if not i wouldnt touch it but overall looks good and following my wave count!
NOVA, Aroon Indicator entered an Uptrend on December 29, 2020.Over the last three days, Tickeron's A.I.dvisor has detected that NOVA's AroonUp green line (see chart) is above 70, while the AroonDown red line is below 30. When the green line goes above 70 while the red line stays below 30, this is an indicator that the stock could be poised for a strong Uptrend. For traders, this could mean going long the stock or exploring call options in the next month. Tickeron's A.I.dvisor backtested this indicator and found 95 similar cases, 88 of which were successful. Based on this data, the odds of success are 90%. Current price $43.95 is above $38.24 the highest support line found by Tickeron A.I. Throughout the month of 11/25/20 - 12/29/20, the price experienced a -2% Downtrend. During the week of 12/21/20 - 12/29/20, the stock fell -9%.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on December 15, 2020. You may want to consider a long position or call options on NOVA as a result. Tickeron A.I. detected that in 25 of 25 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 90%.
NOVA moved above its 50-day Moving Average on November 03, 2020 date and that indicates a change from a downward trend to an upward trend.
The 10-day Moving Average for NOVA crossed bullishly above the 50-day moving average on November 04, 2020. This indicates that the trend has shifted higher and could be considered a buy signal. Tickeron A.I. detected that in 4 of 4 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 90%.
Following a +2.00% 3-day Advance, the price is estimated to grow further. Considering data from situations where NOVA advanced for three days, in 100 of 107 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today. Tickeron A.I. detected that in 88 of 95 cases where NOVA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 90%.
NOVA, Aroon Indicator entered an Uptrend on Nov 30, 2020.Over the last three days, A.I.dvisor has detected that NOVA's AroonUp green line (see chart) is above 70, while the AroonDown red line is below 30. When the green line goes above 70 while the red line stays below 30, this is an indicator that the stock could be poised for a strong Uptrend. For traders, this could mean going long the stock or exploring call options in the next month. A.I.dvisor backtested this indicator and found 95 similar cases, 88 of which were successful. Based on this data, the odds of success are 90%. Current price $40.97 is above $30.77 the highest resistance line found by A.I. Throughout the month of 10/28/20 - 11/30/20, the price experienced a +53% Uptrend. During the week of 11/20/20 - 11/30/20, the stock enjoyed a +16% Uptrend growth.
Bullish Trend Analysis
The Moving Average Convergence Divergence (MACD) for NOVA just turned positive on November 05, 2020. Looking at past instances where NOVA's MACD turned positive, the stock continued to rise in 8 of 9 cases over the following month. The odds of a continued upward trend are 89%.
NOVA moved above its 50-day Moving Average on November 03, 2020 date and that indicates a change from a downward trend to an upward trend.
The 10-day Moving Average for NOVA crossed bullishly above the 50-day moving average on November 04, 2020. This indicates that the trend has shifted higher and could be considered a buy signal. In 4 of 4 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 90%.
Following a +13.09% 3-day Advance, the price is estimated to grow further. Considering data from situations where NOVA advanced for three days, in 93 of 100 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
The Aroon Indicator entered an Uptrend today. In 88 of 95 cases where NOVA Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 90%.
$NOVA Potential BreakOut solar energy been strong sector recently, $NOVA forming base and ready to breakout
