QUICK BUY ALERT: ALGONQUIN (AQN)

We’re back with another quick buy alert, and this time we’ll be looking at a Canadian renewable energy and utility company known as Algonquin (AQN). The chart is currently trading in a “V” formation with the potential to break higher with their current uptrend. Even better, this upward movement has been accompanied by high volume, resulting in a higher chance of a successful trade. Furthermore, the company is currently offering a dividend yield of 5.08% that will be issued on June 29th.

Algonquin’s earnings last August were worse than anticipated, hence the stock’s decline since then. On top of this, investors were scared away upon hearing rumors of a dividend cut at around the same time. That cut finally happened in March, and investors have started climbing aboard once again. However, with the dust finally settling, this stock could be a great mid-term play, meaning we’ll be keeping a close eye on it. The stock has been as high as $17.86 and as low as $6.41, leaving us with a significant upside opportunity.

We’ve purchased Algonquin at $8.52. We’ll update you on any edits or changes we make to this position. For more information about the company, click here: https://algonquinpower.com/