Solar stocks follow energy prices (crude oil) and AMEX:USO (oil etf) is about to break out. I read that chinese are outcompeting the west in cheaper solar products. ie NYSE:JKS
TNX is at bull market, crude oil and yields correlate (not sure which one cause the other).
I look at everything trough probabilities since nothing is ever known.
Stocks do bad when...
The Invesco Solar ETF is based on the MAC Global Solar Energy Index (Index). The Index is comprised of companies in the solar energy industry.
Wall Street investors have only short-sold the future of the planet! They have shorted all the players that could be a solution to climate change (personal opinion).
With the upcoming U.S. presidential elections, I...
If the ETF crosses the $84.03 mark during next week a huge rally can take place, daily charts are already bullish for a few days, I got into a position in $FSLR, $ENPH and $RUN recently, but might add an ETF position in $TAN as well if the weekly signal outlined here triggers.
Note that price crossed over the entire post COVID low till today Volume Profile POC...
Using Tan as an example, we see how we can identify periods of Accumulation and Distribution for the solar industry. My custom ADX, CCI strategy gives signs of accumulation, over buying and over selling. I've marked those points on the chart. Presently signs of uncertainty in both directions as the range sets lower highs and higher lows. This is a sign of...
RUN is benefiting from the federal incentives policies. As shown on the chart
Price has risen 48% since the earnings report which was quite favorable.
It is consistently above the Ichimoku cloud and is now in a consolidation.
I see this as a good swing-long setup with the stop loss under the cloud
or instead wait for a pullback. The target would be $37 at the...
Longterm position taken in TAN solar ETF.
Immediate structural resistance near 47. Major resistance at 50-618 fib extension from ATH.
Any break and close of Hagopian line will threaten longer term count.
I am now moving into puts in FSLR as of this morning >look to move to a net short at 75 % in the money puts look at 2023 puts only .We should a rather large drop back to 100/115 easy
TAN for the 3rd time made a diamond reversal pattern near the base of an upchannel. However, diamond pattern may also be a continuation down pattern possibly for a retest of 68.
TAN also had a big red wedge fro 126 2021 ATH & is now retesting this wedge falling below weekly wma50.
BULLISH BIAS: There is a strong chance this channel will be recovered considering...
$RUN - Technology | Solar
broke out of a descending wedge during its most recent earnings report (QoQ growth in EPS and Sales) on high volume.
the past days of resilience in its price action tells alot of its strength in this market. already at RS high before price
TAN - Invesco Solar & Wind energy ETF has a small head & shoulders formation. Price closed Friday approx at $80.00 neckline. 1st downside objective to fill gap $77.29.
Top 3 stocks in TAN ETF: $ENPH $SEDG $FSLR
TAN solar etf together with its main component ENPHASE energy has been on a tear lately. ENPH made a W-pattern in 2021 & is again repeating it this 2022. It currently made a double top at 283 but shows no sign of rejection yet. If it retraces then the W=neck at 222 will be retested. But if it breaks above 328, then the Fib 1.272 at 328 will be the next target.
Not...
big down trend break on TAN ( solar etf). retesting the break out now intraday. solar can really be the leader of next run when ever we get that. solar names like ENPH SEDG are 7-8% away from ATH's. extra ordinary relative strength.
TAN is already up 15% in 2 days, so might be over heated in short term but long run looks really good.
