Long
SPWR Trading At The Bottom of Its Channel. Go long here.
Updated
SPWR is in a strong industry group from the past few months. It has been trading in a channel since March and is at it's low point. I would get in at these levels until it reaches the top end around $9.40. I would set a stop loss at $6.70, which would indicate that the stock has left its trend.
Upside is around 27% and downside is about 9%, which is attractive.
Upside is around 27% and downside is about 9%, which is attractive.
Note
Looks like it is trading flat. I would close here because trade idea didn't pan out.Note
Looks like it worked out after all.
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