Long Position on SCTY @ $50.50 on 12/24/2015 (Momentum)

SolarCity Corporation (SCTY) designs, manufactures, installs, maintains, monitors, leases, and sells solar energy systems to residential, commercial, government, and other customers in the United States.

It offers solar energy systems; solar lease and power purchase agreement finance products; mounting hardware for photovoltaic panels; and related software, as well as develops a proprietary battery management system, which is designed to enable remote, bidirectional control of distributed energy storage that can provide benefits to customers, utilities, and grid operators.

The company also sells electricity generated by solar energy systems to customers. It offers its products and services through direct outside sales force; door-to-door sales force; call centers; channel partner network; and robust customer referral program. 

This stock, along with others in the group, jumped last week after the Congress extended solar-subsidies for another five years. Most investors were not expecting this move by the Congress. Since then shares have formed a bullish "flag" formation. Higher share prices are expected for this stock.

Entry Point: $50.50

52-Weeks Trading Range: $24.07 - $63.79

Stop Loss: $48.00

Target Price: $55.60

Updates

1/27/2016 12:34:42 PM

SCTY closed at $34.30

Position closed on 1/27/2016 at price of $34.30 with a -32.08% loss in 34 days.

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