After breaking-out in early Spring (March), TerraForm Power Inc. NASDAQ: TERP has found itself digesting/consolidating in a Flag pattern as we can observe from the Daily chart above.
While the action has been fairly benign with-out much fanfare, TERP continues to display solid technical characteristics and remains in decent shape despite trading slightly below both its 20 and 50 DMA's, yet comfortably above its rising 200 DMA.
In addition, when one extends out to both the Weekly and Monthly duration, TERP finds itself in a healthy technical posture as well. Thus, we have a stock trading in a favorable technical posture across multiple time-frames, which bodes well.
Moving forward, 'When and If' TERP is capable of going top-side of the $14.25 and perhaps more importantly the $14.50 levels, such development, should it occur, would like trigger its next advance into greener pastures.
In the meantime, TERP yields nearly 6% via dividend and for those seeking a bit of income while waiting for its next move, you're being handsomely paid to wait.
Nonetheless, both investors/traders may want to continue to monitor the action closely for a potential break into higher ground.