Long Position on SHLS @ $39.50 on 2/23/2021 (Momentum)

Shoals Technologies Group, Inc. (SHLS) provides electrical balance of system (EBOS) solutions for solar energy projects in the United States.

It offers EBOS components, such as cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, and splice boxes that carry the electric current produced by solar panels to an inverter and to the power grid.

The company sells its products to engineering, procurement, and construction firms that build solar energy projects.

This recent IPO has formed a "bullish flag" formation and should break out of its buying point, pushing share prices higher.

Entry point: $39.50

52-week trade range: $31.88 - $44.04

Stop/Loss: $37.50

Target Price: $43.45

Updates

6/3/2021 3:23:23 PM

Closed at $26

Position closed on 6/3/2021 at price of $26.00 with a -34.18% loss in 100 days.

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