Grab Four Green Stock Powerhouses in this Week’s Watchlist
Shah Gilani|August 16, 2021
Here’s your latest batch of watch list stocks. First up, I’m watching The Home Depot, Inc. (HD). The company is scheduled to report Q2/2021 results on Tuesday, before the open. The company experienced a surge in sales and earnings since the beginning of the pandemic, but now, both are expected to slow down as stimulus checks dry up, supply chain issues persist, and labor costs continue to rise.
Given those uncertainties, and the fact that the stock is trading near all-time highs, we could see some volatility around earnings. If the company misses on top-line, bottom-line, or if it lowers forward guidance, I like buying a put spread.
If HD closes below $327.00, I like buying the HD September 17, 2021 $325/$320 Put Spread for $2.00 or less.
Next up, I’m watching two of my favorite EV charging companies: ChargePoint Holdings Inc. (CHPT) and BEEM Global (BEEM). I think both companies could end up being beneficiaries of either the infrastructure bill or the Democrat’s proposed $3 trillion social and climate action plan.
If CHPT close above $27.00, I like buying the CHPT October 15, 2021 $28/$29 Call Spread for $0.45 or less.
And, if BEEM closes above $34.00, I like buying the BEEM November 19, 2021 $35/$40 Call Spread for $2.00 or less.
Sticking with clean energy, I’m watching Plug Power (PLUG). The Latham, New York-based hydrogen fuel cell provider reported mixed Q2 results on August 5th. Initially, the stock jumped 16.34% over three sessions only to give back most of those gains by the end of last week’s trading.
I think we could see another leg down from here, but I want to see the stock break support before I make a move.
If PLUG closes below $25.00 by the end of August 2021, I like buying the PLUG December 17, 2021 $22.50/$20 Put Spread for $1.20 or less.
And finally, I’m watching Global X Lithium & Battery Tech ETF (LIT). As the name suggests, LIT is an exchange-traded fund that holds a basket of Lithium miners and batter-tech companies, both of which are critical in meeting demands from the growing electric vehicle market.
LIT has already had a great run this year and I think we could see another leg higher, assuming it can close above recent highs.
If LIT closes above $88.00, I like buying the LIT January 21, 2022 $90/$95 Call Spread for $2.25 or less.
What about you? What’s on your watch list? I want to know! Drop me a line here at shah@totalwealthresearch.com and tell me all about them.
Until next time,
Shah