You don't have to be a tree hugger to get this... And, why we need "Earth Day" when every day is Earth Day is beyond my ken. OK, enough about me.
This pattern (and global warming - dang! Sorry.) suggests it might be time to buy SPWR.
If you are in California, affected by the fires in any way, my heart goes out to you.
$SPWR is due for a rebound and after topping Q3 earnings, we believe the recovery is just starting. After the RSI got just below 30, $SPWR has been oversold and due for a bounce. Key to watch is the 200 dma of $9.20 a share.
Here are the highlights from Q3:
SunPower (NASDAQ:SPWR): Q3 Non-GAAP EPS of $0.07 beats by $0.05; GAAP EPS of -$0.11 beats by...
SPWR had a huge bull breakout of a failed wedge bear flag. When a wedge fails there is often a measured move based on the height of the wedge. Prices are also testing above the top of the bear breakout and sell climax of August 2016. However prices are still within a large trading range (always look left!). This increases the likelihood of heavy two sided...
SPWR is off to a strong start in 2019, up 25% already. We just received the buy signal from the Megalodon!
The Megalodon indicator uses an artificial intelligence, combined with data from over 500 buy setups, and over 2000 indicators to produce extremely accurate buy signals on any and all asset classes!
- The stock has been trading in a trading range for a good.
- A break out of the range might be followed by a gap.
- Longer and higher than the second target at $21.5 might be added later after the breakout.
It did break the support/resistance level at 8.07 but looks likes it will drag a bit around this level and it can either fall or rise. Not very helpful. I guess.
