The solar space is interesting right now because:
1) It is at a critical technical juncture for a potential break-out from its 10-Year Base
2) Solar companies are very difficult to accurately place value on, which is evidenced by recent polarizing movements (and the lack thereof in some cases)
3) Solid, long-established and fast-growing companies that have...
If Democratic wins this election, it might give TAN a further boost, imo.
Chart wise, it is very bullish having breakout from the long term bearish trend. It has also broke out of the resistance since 2015. At current price, I think a healthy pullback, hopefully to 61.52 and 65.08 would be an ideal place to go long.
It looks like TAN the solar ETF is ready to break to new highs. Very bullish. The solar sector has been very lucrative lately. IF TAN breaks above the horizontal red line indicated by the previous high it should find traction. The price is currently above all the supporting averages. Volume is building.
Solar & Clean Energy ETF - This is undoubtedly one of the goals the world is striving for right now
Has made a +33% since the last breakout - in a huge uptrend!
T.A SETUP - Bull flag + (mini) V pattern
It has a lot more to go up if you look at the monthly chart
Trend line broken. exit line broken so there will be plenty of people taking $ off the table for now.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
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.
Hypothetical break out would be over prior high with V bottom patterns
Mid V is 36
Stock has filled gap down so there is good support there
Top 10 Holdings
SEDG - SolarEdge Technologies Inc10.34%
ENPH - Enphase Energy Inc9.72%
FSLR - First Solar Inc8.38%
SSO - Scatec Solar ASA6.33%
Xinyi Solar Holdings Ltd6.23%
SLR - Solaria Energia y Medio...