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Today we bought ITM Power PLC (ITM.L ISIN=GB00B0130H42) @ £ 2,35
Slowly but gradually we are buying small portions of stock. Most companies on The List of wisguys have not reached our buying levels yet. So we are not making any big investments. Te state of the economy has us worried and the king (Willem=Alexander – because we are Dutch) has warned us today in his yearly speach “De Troonrede” that we are heading for a big recession. But the trafic light tells us it is already time to buy a little. And that is what we designed the traffic light for: Taking out the emotion.
It is a risky play and we have to keep a tight stoploss. But ITM has bounced back from the resistance line so many times that we believe that (when the markets are favorable) it can easily gain a lot. And if we do hit a recession, or for whatever reason, it will not rise. We will sell below £ 1,80 (because that is our 25% loss marker = read the strategy).
ITM Power Plc designs and manufactures products which generate hydrogen gas, based on Proton Exchange Membrane (PEM) technology. This technology only uses electricity (renewable) and tap water to generate hydrogen gas on-site and has a product offering capable of being scaled to 100MW+ in size. In establishing the existing customer base, particular importance has been placed on the ability (i) to provide a fully integrated system, (ii) of the system to respond rapidly to varying power profiles, and (iii) to generate hydrogen at a pressure, flow rate and purity appropriate to its application.
ITM Power Plc is a globally recognised expert in hydrogen technologies with the overarching principle to take excess energy from the power network, convert it into hydrogen and use it in one of three broad market areas – Mobility, Power-to-X and Industry. There are multiple application areas within each area, all of which are acknowledged to be growing rapidly and requiring systems of ever larger capacities. This is led by the drive for improved air quality worldwide, the growth of renewable power generators in the energy mix and a need to decarbonise industrial processes.