I believe we will be testing all time highs on TAN here as the solar industry continues to consume energy market cap and we accelerate into exponential growth in solar. Stay smart out there.
Breaking out of the base and re-testing level from August 2020. Looks like a bullish pattern and increasing oil prices will give further boost to this sector.
3 different scenarios for TAN:
1) It will make a double bottom at current level of 70 (also around ma100 Weekly
2) It will fall more & institutional buyers will appear start accumulating at ma200 area w/c is around 60.
3)There will will a fake-out below ma200 stopping at 50 support zone with positive divergence.
BTW, 60 is my best bet because:
1) the 60 zone...
Not quite to the 1.113 which could be an alternative Bat pattern/is very close to the 1.113.
No recommendation
An alternative bat pulls to the 1.113 on final leg. The bat pulls to the .886.
The bat can look like a double top.
After a long correction, TAN may reverse to uptrend 2022.
With the recent divergence, it may take a short while before
TAN breaks the 81 Pivot & the MA ribbons w/c also is near the MA50 line.
Heiden Aishi candles starting to shoe greens in this 4H chart.
Although Money Flow Index is still red, it is also slowly turning up together
With Stoichastic Rsi.
There will...
TAN along with the solar sector starting to catch my eye here- Holding a big symmetrical triangle with a falling wedge at the end (See Attached Chart Below). Undoubtably a longer-term play, however, solar's price action tends to be quite cyclical so will certainly be looking for a breakout from this triangle and wedge (broader market conditions permitting)- Just...
This ETF performs well on the return to the long zone. Closure above the level of 91.33 - entry into the deal. Target: 107.5. ( Upside 17.8%).
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The solar ETF TAN recently printed a weekly inverse trampoline.
Dropping to the hrly, we see Moxie drop below 0 line, creating
2 subsequent inverse tramps as potential "timing" vehicles
for the larger weekly one. Each individual may have their own
"timing" related indicators they prefer. This example simply
shows when both time frames are in concert with inverse...
The investment seeks to track the investment results of the MAC Global Solar Energy Index. The fund will generally invest at least 90% of its total assets in the securities comprising the index. It is designed to track the global solar energy equity sector.
TAN Solar ETF has been on upside momentum for a while. You could clearly see it had a channel breakout first, and then breakout the strong resistance line and now consolidating side ways for last 1 week or more, testing the next resistance levels. Weekly charts also shows that the buying demand is high and bulls are in control. Getting ready for next breakout....
Expecting a bullish continuation in solar this week off of climate bill sentiment. SEDG is set to report earnings on Nov 2nd. ENPH had a spectacular earnings and record revenue despite supply chain headwinds, and reported that market demand for solar was unusually strong. IF SEDG was able to adapt to supply chain headwinds during Q3, we should see another strong earnings.
... for a .15/contract debit.
Comments: Plain Jane profit-taking here on approaching worthless. In for 1.19 on weakness and >35% implied (See Post Below); out here for .15/contract with 31 days to go in the contracts. 1.04 ($104) profit per contract. Implied isn't horrible here at 41.2%, but liquidity in the options has dropped off somewhat, and it isn't...
