SunPower looks to be forming a nice cup with handle. The Solar stocks were coming on strong after a big pullback. This one is building out the right side of the chart in a constructive manner. They beat earnings with about a 75% earnings surprise. I have this on my watch list and I'll likely go long on a break of the handle downtrend. I am also long $RUN so I like this space. Another way to play the sector is with the sector ETF: $TAN. Ideas, not investing / trading advice.
The blue lines on the chart are areas I have identified as areas of resistance / support once above.
May 2021 from earningswhispers.com:
Sunpower Beats
Sunpower (SPWR) reported 1st Quarter March 2021 earnings of $0.07 per share on revenue of $306.4 million. The consensus estimate was for breakeven results on revenue of $305.1 million. The Earnings Whisper number was $0.04 per share. Revenue fell 31.8% compared to the same quarter a year ago.
The company said it expects second quarter revenue of $295.0 million to $345.0 million. The current consensus revenue estimate is $336.07 million for the quarter ending June 30, 2021.
SunPower Corp is engaged in designing, manufacturing, installation and ongoing maintenance and monitoring of solar system.
The blue lines on the chart are areas I have identified as areas of resistance / support once above.
May 2021 from earningswhispers.com:
Sunpower Beats
Sunpower (SPWR) reported 1st Quarter March 2021 earnings of $0.07 per share on revenue of $306.4 million. The consensus estimate was for breakeven results on revenue of $305.1 million. The Earnings Whisper number was $0.04 per share. Revenue fell 31.8% compared to the same quarter a year ago.
The company said it expects second quarter revenue of $295.0 million to $345.0 million. The current consensus revenue estimate is $336.07 million for the quarter ending June 30, 2021.
SunPower Corp is engaged in designing, manufacturing, installation and ongoing maintenance and monitoring of solar system.
Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.
I may or may not take any trade published and I am under no obligation to post any action or update to any idea.