dchua1969
Long

Timely reminder for 2020 trend followers

NASDAQ:SPWR   SUNPOWER CORP
If you look at this chart, it is not difficult to spot 2 distinct patterns. First, in Dec 2018, the
price went from 4.57 to 15.89 in Aug 2019, almost 250% returns in profits. All this in less than a year. The S&P 500 last year did 28.9% return. So this is more than a 10 fold returns. WOW!!!!

But, more importantly is the 2nd pattern. If one gets complacent and did nothing to protect its profits, he will be sorely disappointed to see it evaporated when he wakes up anytime in Nov last year. The share price has plunged to a low of 7.04 from its peak.

Well, the market may have decided to give the early and late buyers another chance to profit from this stock. It sits at a support at 7.04 now and has broken out of the bearish trend line .

It's downside is if 7.04 fails to hold and it breaks down to retest the Dec 18 bottom at 4.93. Now, you can calculate for yourself the downside risk (7.04 - 4.93 = 2.11) vs upside gain (15.33 - 7.04 = 8.29) and decide for yourself if this trade is worth trading.

Trade safely.
Comment: 3rd time retesting 8.41 again , congrats to those who bought in at the support level
Comment: praise lord. it is going slow and steady

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