ITRI trade ideas
Watchlist: ITRI"A missed trade is a walk away trade. Chasing is for dogs."
ITRI, which recently had high buying volume (5) has a setup signal now (1). I'm looking to enter long near the close of the day if the stock can manage to CLOSE above the last candle highs(2). If triggered, I will then place a stop-loss below (3) and a price target above it (4).
ITRI - May 24 (MATREND v1.6)Similar to VECO
Bullish price movement seems to have stalled here so there is a good chance this breakout can continue. SL position is good also
v1.6
Exit rule tweaked to Daily 10SMA
Calibrated entry specs, to slightly loosen up the Stoploss
atr_x = 2.5
entry_atr_xfactor = 3.7
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This is a simple systematic Trend strategy where entry is based on two conditions
1. Price crossing over the EMA
2. The present ATR is less than an ATR multiple
The ATR condition allows us to enter trades that has not gapped too much as that usually results in a price pullback
Risk
Fixed & tight SL based on ATR multiples closes trades fast
Closing of the trades is a simple price cross over the daily SMA
This strategy only has a 34.38% win rate. So most trades will end up as losers until we hit a strong upswing.
📈 Itron (ITRI) Analysis 📈🔍 Company Overview:
Itron NASDAQ:ITRI operates in the energy and smart city solutions sector.
Recent developments, including collaborations and acquisitions, signal growth prospects for the company.
📈 Market Sentiment:
Collaborations with Ireland's ESB Networks and Schneider Electric, along with the acquisition of Elpis Squared, strengthen Itron's market position.
These initiatives expand Itron's overseas presence and enhance its Grid Edge Intelligence portfolio.
💼 Investment Thesis:
Bullish Stance: Given the positive developments, a bullish stance on ITRI stock is warranted.
Entry Range: Consider entry above $78.00-$80.00, reflecting confidence in Itron's growth trajectory.
Upside Target: Set an upside target of $123.00-$125.00, reflecting potential appreciation as the company expands its market presence and drives revenue growth.
📊 Trade Plan:
Entry Point: Initiate a long position above the specified entry range.
Target: Aim for the identified upside target based on growth prospects.
Risk Management: Implement appropriate risk management strategies to protect against downside risks.
🚀 Potential Catalysts:
Continued expansion of Itron's market presence through strategic collaborations and acquisitions.
Strong financial performance driven by revenue growth in the energy and smart city solutions sector.
🛑 Risks to Consider:
Market volatility and macroeconomic factors may impact stock performance.
Delays or challenges in the implementation of strategic initiatives could affect growth prospects.
📉 Note: Stay informed about company developments and market trends to make informed investment decisions! #ITRI #StockAnalysis 📊🔍
Unveiling a Brighter Future in Energy and Water ManagementIntroduction
Itron, Inc. (NASDAQ: ITRI) stands at the forefront of innovation in energy and water resource management. With its recent financial achievements and strategic expansions, Itron is poised for significant growth, underpinned by a commitment to sustainability and technological advancement.
Revenue and Profit Forecasts: A Promising Outlook
Itron's third-quarter 2023 financial results reflect a robust performance, with revenue reaching $561 million, marking a 33% increase compared to the same period in 2022. Gross profit surged by 56% to $187 million, while GAAP net income experienced a significant jump to $40 million. Looking ahead, the company forecasts fourth-quarter 2023 revenues between $565 and $575 million and updates its full-year 2023 guidance to $2.16 to $2.17 billion in revenue, with non-GAAP diluted EPS between $2.83 to $2.93.
Growth Drivers: Strategic Expansions and Innovations
Itron's growth trajectory is bolstered by strategic expansions and innovations. The company recently announced the expansion of its Aquadis+ volumetric water meter production to Southeast Asia, aiming to meet the growing demand in the Asia Pacific region. This move, alongside the unveiling of a new brand identity that emphasizes its commitment to creating a more resourceful world, positions Itron as a leader in enhancing intelligence in energy and water management.
Recent Financial Performance: A Solid Foundation
The company's recent financial performance lays a solid foundation for future growth. The significant increases in revenue, gross profit, and net income highlight Itron's operational efficiency and market demand for its solutions.
Technical and Market Outlook: Positioned for Growth
The market outlook for Itron remains positive, with a recent uptick in its stock price signaling confidence among investors. The company's comprehensive portfolio of smart networks, software, services, meters, and sensors is critical for utilities and cities to manage resources more effectively.
Conclusion: A Leader in Resourceful Innovation
Itron's dedication to innovation and sustainability positions it as a key player in the future of energy and water management. With strong financial performance, strategic expansions, and a focus on technological advancements, Itron is well-equipped to lead the charge towards a more efficient and resourceful world.
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NOT TRADING ADVICE. ALWAYS DO YOUR OWN RESEARCH.
Trade IdeaGood to long
Good earnings
Price b/o
Tight price action and b/o
Risk management is the most important.
I am getting my thought process from CANSLIM and Mark Minervini
ITRI: Breakout Confirmed, 28.93% Potential Profit!Description: ITRI is trending higher and in an uptrend meaning that highs are getting higher and lows are getting higher. The uptrend line on the chart and the Trending Band Indicator (which measures trend) supports the Long Position.
Stats:
1. Ideal buy range: $89 - $93.5
2. Take profit: $114.98
3. Stop Loss: $84.37
4. Risk To Reward: 1 / 6
5. Accuracy Rating: 94%
ITRI - Call EntryITRI has consolidated really well between 66-67 for the past 2 weeks after running up from a dip at 56. This looks like it is ready to break out to the next level. I will be looking for a dip early Monday at 66.25 before this breaks 67. 66.75-67 will be the area that needs to break for the next run up towards 70. The MACD should get a strong bullish cross after breaking 67 on the 4 hr chart.
$ITRI TARGET 1 Price: 37.3 Profit: 6.2% TARGET 1 Price: 37.3 Profit: 6.2%
Stop/Trailing Stop: 34.38 Loss: 2.1%
