Potential Opportunity regarding the new Carbon Credit ESG Tax benefits.
As most of you probably know, new tax regulations are being rolled out that incentivize carbon emission neutrality and many companies are jumping on the opportunity. (See Jpmorgan Purchasing massive swathes of timber forest land)
Origin is the world's leading carbon negative materials...
Origin Materials ( NASDAQ:ORGN ). Based purely on technical analysis, this looks a little weak at its currently level. If the market corrects soon, I anticipate this to follow and go below $6. Using the volume profile, there is support near $5.35 (then down to the support lines). In the near-term, this may be a good short below $6, but if the market melts-up, it...
Best Case Scenario: Comes to retest this resistance by March 25 and breaks above with high volume
Worst Case Scenario: The Price gets rejected on this raising channel resistance and struggles to break above
