If all other market indicators are not significantly below average, NASDAQ:ARRY appears poised to emerge from a year-long consolidation as a leading supplier of renewable energy components. During the past week, it concluded trading above the 22.43% Fibonacci retracement level. This was a direct result of robust earnings stemming from a well-established global supply chain and a promising future demand for components in Solar Plant Systems.
It's projected that the NASDAQ:ARRY 's price will rise to $30, as numerous investment institutions' analysts have identified it as having potential for a higher trading value than its current level.
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Early longs taking profits. Some shorts closing trade.