The transition to clean energy has been happening but at a slower pace. Fossil fuel is here to stay for years to come since our survival heavily depends on its byproducts. The iShare Clean Energy ETF will trach this transition as we increase the adoption of clean/renewable energy.
The ETF is heavily discounted going forward and the price is not trading far from...
With solar running hot I've got me eye on this Global Clean energy ETF with big holdings in ENPH (8.9%) SEDG (8.2%) and FSLR (8.2%) Clean looking wedge pattern here on the daily. Not a lot of ATR on this one but could set up for a nice swing. Watching for a breakout of that 20 spot if solar continue to run.
Whats The Plan/Trade/Thought
ICLN is one of the 3 largest renewable energy ETF’s by assets under management. These 3 ETFs all have a significant holding on to stock ENPH. So it almost acts like an insulated ENPH proxy.
ICLN generally follows the S&P and the drops a less drastic. The recent 6% gap up was due to ENPH strong earnings (20% above estimates)
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Whats The Plan/Trade/Thought
ICLN is an ETF filled with companies that will rely heavily on bank loans to operate, this would probably result in accelerated dips with the increasing interest rates
Risk Mitigation
I see 19.70 as my indicator that my direction is wrong and I should exit
Can You Trade The Opposite Side (Y/N)
N
Trade Specs
Sold 260...
Prices are trading in a corrective formation ahead of an impulse upward 5th wave. The next move will drive the market higher to 25.20, 25.50 and 26.10. We would recommend building long positions at market with a take profit at 25.20/50.
A daily close below 20.00 would invalidate the upward scenario mentioned above.
Energy dependent Nations looking for new sources of energy primarily clean Energy. The Bipartisan Infrastructure Law and the Energy Act of 2020 provides over $60 billion primarily for new major clean energy demonstration and deployment programs and more than triples DOE’s annual funding for energy programs, including significantly expanded research and development...
Clean Energy sector shows a solid entry point.
Fib retracement and fib extension seem to have formed a bottom at the 17 level.
IMHO this is a good entry level, with SL below 17 and target above 40 offering an 8:1 ratio.
The macro outlook also support the bullish case.
I believe that renewable energies are the inescapable final destination for all of humanity, as even the oil industry knows that fossil fuel deposits are finite. To me, the renewable energy revolution has always been a question to when not if. For example, over the past decade or so advancements in semiconductor processing and production methods has lead to a...
Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
If you enjoyed this analysis, I would definitely...
- Price is breaking out of a period of consolidation on the ICLN ETF
- Looking for a move back towards the swing highs while we remaining above the support zone
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
ICLN is setting up well on the monthly charts.
Points for consideration:
1. Price above 20 Day, 20 week and 5 month MA. This should act as a nice support zone
2. 200 Day Moving Average right above us that could act as potential resistance.
3. RSI is crucial zones and positive structure
4. Break above 200 Day MA will be seen as very bullish on daily/weekly...
ICLN - Long term looks good.
Short term it might chop for longer. It has a little room to go down more if we look at 1-6month range.
Scaled out 5Y looks like a nice setup though.
Personally am quite bullish on the ICLN as well as many of its holdings. Closed on Friday sitting right on its 200-day EMA which it has previously bounced off of many times and is approaching the end of a massive symmetrical triangle. Bollinger bands are squeezing as well (not pictured), undoubtedly a long-term play but will be keeping a close eye on this one....
