This one is still fairly close to it's most recent bottom and there will most likely be a lot of resistance overhead. Today it is still close to C and a possible stop can be placed under C.
There will be folks overhead who bought at higher prices in the clouds who will most likely sell with every rally to relieve financial pain they have been experiencing while this one came back down to earth.
The moving averages are not looking so good and in need of improvement.
Looks like SPWR was totally bullish on it's first run up and made a lot of ground above the top bollinger band which is bullish and shows extreme buying pressure when set on an 80 DMA verses a 20 DMA. Price eventually returns to the safety of the bands.
ABC bullish is a corrective pattern with hopes that C is as low as she goes. This is not always the case.
No recommendation
There will be folks overhead who bought at higher prices in the clouds who will most likely sell with every rally to relieve financial pain they have been experiencing while this one came back down to earth.
The moving averages are not looking so good and in need of improvement.
Looks like SPWR was totally bullish on it's first run up and made a lot of ground above the top bollinger band which is bullish and shows extreme buying pressure when set on an 80 DMA verses a 20 DMA. Price eventually returns to the safety of the bands.
ABC bullish is a corrective pattern with hopes that C is as low as she goes. This is not always the case.
No recommendation
Comment:
SPWR takes it's time for sure! LOL