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Long

SPWR

By nur16i
Updated
SunPower Inc. is up nearly 2,000% since March and continues to grow. The paper differs in that growth is constantly accompanied by the formation of trend continuation patterns, which speaks of organic fundamental growth, and not just hype. At the moment, after a slight correction, an oblique triangle pattern has been formed and its breakout has occurred (see the upper yellow circle). Now 3 targets are expected to be achieved - 57.20, 63.54 and 67.47 (total growth of 61%). Due to the high volatility, there is a decent IV on the options board of 125%, which will allow this trade and options to be traded, which will benefit from more than just going long and buying the stock.
Trade active
The paper fell on a good report, but which investors did not like. Strong support, I averaged the position and sold another 40-strike puts on March 19th.
Note
The paper is coming to a strong resistance level. The estimated price movement is indicated by a crimson arrow snapshot
Chart Patterns
nur16i

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