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CosmicDust
Jan 4, 2017 3:48 PM

TAN weekly - falling wedge exhausting - 1/4/2017 

AMEX:TAN1W
Invesco Solar ETFArca

Description

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Current setting is similar to December 2012, where a breakout produced several hundreds percent gains. Buy breakout here at about $18.50 with a stop at about $16.50, as it has the potential to $33.
TAN
Comments
dsorchestra90
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still think this is playing out?
CosmicDust
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@dsorchestra90, not there yet but I think the chance is still good. need patience so for now just wait and see I guess.
dsorchestra90
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@CosmicDust, Thanks @CosmicDust . BTW i really like your style of charting and actively follow. I tend to agree with you on TAN, but I am also waiting until there is a cleaner break of the downtrend. We could thrust downward 1 more time, especially if oil takes a tumble, in my view. Have a good weekend and happy charting.
CosmicDust
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@dsorchestra90, Thank you!
dsorchestra90
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@CosmicDust, looks like it broke today
CosmicDust
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@dsorchestra90, Looks good so far. Hopefully it can make a higher high soon on the weekly chart, that will give me more confidence.
dsorchestra90
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@CosmicDust, agreed, it looks like the left shoulder is around 18.34? 18.50 looks like a decent bogey if we can get over that this week. Long at 18.03
CosmicDust
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@dsorchestra90, Worth taking the risk... I picked up some too with a 10% stop.
dsorchestra90
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@CosmicDust, Looking great this morning! hopefully the start of something bigger
CosmicDust
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@dsorchestra90, It is. If this week closes strongly, next week can be the game changer.
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