Long Position on ERII @ $25.25 on 9/15/2022 (Momentum)

Energy Recovery, Inc. (ERII) designs, manufactures, and sells various solutions for the seawater reverse osmosis desalination and industrial wastewater treatment industries worldwide. 

The company operates through Water and Emerging Technologies segments.

It offers a suite of products, including energy recovery devices, and high-pressure feed and recirculation pumps; hydraulic turbochargers and boosters; and spare parts, as well as repair, field, and commissioning services.

The company also offers a solution to reduce energy consumption in natural gas processing and in refrigeration systems that use carbon dioxide.

It provides its products under the ERI, Ultra PX, PX, Pressure Exchanger, PX Pressure Exchanger, PX PowerTrain, VorTeq, IsoBoost, AT, and AquaBold names to large engineering, procurement, and construction firms; end-users and industry consultants; original equipment manufacturers; and aftermarket customers.

Shares have formed a bulish "cup and handle" and are expected to move higher from this formation.

Entry Point: $25.25

Stop Loss: $23.00

Trading Range: $16.92 to $26.20

Target Price: $28.00

Position closed on 9/23/2022 at price of $22.75 with a -9.90% loss in 8 days.

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