planetlearn
Long

$SPWR continues short term uptrend inside its monthly channel

NASDAQ:SPWR   SUNPOWER CORP
16 0 0
SPWR             in the last week has announced a new contract coinciding with positive comments and support for solar energy by the white house. Fundamentally spwr             has consistently beaten analyst's estimates over the last year. Technically the price of sunpower             seems to be holding strong inside an upward wedge on the daily chart inside a bigger upward wedge from the monthly chart. Short term support is around 33 and longer term on the monthly chart down around 27. Overhead resistance in the short term is around 36.30ish and longer term 38.20ish. Bias is to the upside clearly, and a move to 37 plus in the short term seems highly probably. Sunpower             is also a take over candidate by its majority shareholder Total whose lock up to buyout the company in whole expires in June according to reports.
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