SOL is posting some good numbers and it has cleared a very nice head and shoulders reversal as well.
However, please note it is still stuck in this triangle/wedge and on top where the red line is, it is expected to come down.
In addition, I have drawn two zones: green and red. Red zone means this is where a lot of resistance lies. The triangle top line and the resistance zone both meet up around the same area, so I am expecting heavy selling.
The next support I am expecting at 36-38, observed from the chart support levels
If you are already in the trade and have bought, then keep your eyes on this chart to see when it hits the resistance area. Good luck.
However, please note it is still stuck in this triangle/wedge and on top where the red line is, it is expected to come down.
In addition, I have drawn two zones: green and red. Red zone means this is where a lot of resistance lies. The triangle top line and the resistance zone both meet up around the same area, so I am expecting heavy selling.
The next support I am expecting at 36-38, observed from the chart support levels
If you are already in the trade and have bought, then keep your eyes on this chart to see when it hits the resistance area. Good luck.