Rela4722
Long

SPWR Heading Towards Multi-Year Breakout

BATS:SPWR   SUNPOWER CORP
47 0 0
SPWR             rallied hard in 2013 and looks to continue this year. After some consolidation over the past two months, it looks ready to break out of the $32 area and test its 2008 levels. On a long-term chart it looks to be encountering strong resistance in this area, which was also resistance in 2009. Continuing the trend from its low in late 2012 puts it back at $60 sometime in the next year. I am long over $32 with a closing weekly stop at the December closing lows.
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