Back to $SPWR - Now breaking out of bull pennant. I added to my position today. Let's see if this can hit $23, then start pushing back to it's ATH's.
Solar
FSLR: Technicals Not So Bright For This Solar StockChecking FSLR we can immediately see a warning signal from our CDV indicator at the bottom of the chart. Since Oct 7th, we've been on a down trend indicating the bulls are really losing momentum and the bears may be ready to feast. This is a bit of surprise since they had a big earnings beat only two weeks ago.
On top of our CDV divergence it looks like we also have a possible head and shoulders pattern inside of our broadening wedge. If you view the 30-minute chart the head and shoulders becomes a bit more clear.
To me this chart looks technically bearish but considering their recent earnings report & a biden presidency, this stock does have catalysts go up.
If the bulls aren't able to step in and keep control of the current trendline, we may find support between 76.50 and 80. That would be an important trendline the bulls cannot lose.
NASDAQ:FSLR
#BHP - 1D Timeframe - US ELECTION OPPORTUNITY - WIN-WIN?POLITICAL AND MARKET CONTEXT
Specialized on silver production that is a basic raw material of photovoltaic solar panels. Renewable energy consumes up to 30% of world silver production.
If Trump wins, price of metal might still rising due to his monetary (inflationary) policies.
If Biden wins, BHP will be a huge player as a raw material supplier of a possible boom of Solar and renewable energy
TECHNICAL ANALYSIS. 1D TIMEFRAME.
Historical support on $46.80 - $47.70 range. 4 clear rebounds on this level over last 15 months (yellow rectangles). March´s COVID-19 meltdown was the only time that this support was broken.
Last week this price range was tested again and showed quite strong even with a high seller volume . This time we've got MA200 assisting as double support just above Fibonacci´s 0.382 level.
Strategy: Monday and Tuesday sessions are crucial to confirm rebound on support pointed out. Specially with the high volatility and bear forces we might expect for this week.
If price resist this level and cross MA200, we´ll be able to open a long position with a target of $58.55 (+21.5%).
TAN: Huge topI think we are seeing a massive top in many stocks, solar looks specially vulnerable and it's one of the sectors I'm short of.
If it doesn't break over today's high going forward chances are it is dropping all the way back down...We would need a Biden victory, or a tax law change for this to come to pass though (oil dropping would also help, or subsidies going away).
Oil itself flashed a long term short signal this week, so I like this idea a lot here.
Best of luck,
Ivan Labrie.
TAN long ideaIt looks like TAN the solar ETF is ready to break to new highs. Very bullish. The solar sector has been very lucrative lately. IF TAN breaks above the horizontal red line indicated by the previous high it should find traction. The price is currently above all the supporting averages. Volume is building.
JKS - too good to be trueAfter recommending NYSE:JKS for long term purchase last November, idea went trully ballistic in recent months making around +500% since the time of recommendation.
Despite such price increase, company still does not seem particularly expensive (it was a bargain in low teens) and high purchasing volume also hints that trend higher may continue for years to come.
However, short term wise, JKS is clearly very overbought, and decent correction may ensue shortly. looking for spots to take some profits off the table should be priority strategy in the upcoming weeks.
DQ correction for short term profit taking? I've been long on DQ since 140 and I feel like there's a strong chance of a short term price correction to resistance levels of around 200 in the next couple days. Momentum has been ridiculous, fueled mostly by hype, since their earnings are really nothing too special / worthy of their PE. I'm seeing strong bearish divergence on the daily RSI on today's high (see chart). Also, MACD is crossing below the signal on the lower timeframes (4h). I can see myself closing my position, and buying any dip that comes up. What worries me more in terms of medium-term prospects is their consistency in beating EPS estimates, coupled with the boatload of hype investors .Benjamin Graham points out how companies that have a record of beating EPS estimates get their prices dragged through the mud as soon as they falter in meeting those estimates, regardless of any change in intrinsic value. I'm not going to try to predict anything about their Q3, but if they can't keep up their record of beating EPS estimates, this quarter or in the next ones, you can probably expect a sharp pullback. Long term investors shouldn't be too concerned, and maybe buy the (potential) dip if they feel the intrinsic value is still there.
I don't want to seem too pessimistic about DQ, but analysts are getting super bullish on their estimates, raising Q4 EPS estimates by 50% in the last three months. Again, I think DQ is a great company, but I'm not sure these estimates are realistic.
NOVA strong chart; pre-earnings playI was scouting for some pre-earnings play and found this one.
Looks like it can run into earnings 28 october.
- Clear, great looking chart: consolidation, higher lows, bullish flag
- Accumulation volume
- Solars are strong lately; this particular one have good news
- Analyst upgrades lately
So, I took a starter at 29.11 expecting breakout from this consolidation.
$CEI 133,442,000 Barrels of Oil Reserves PT $10.00As of March 31st, 2020 the company had an estimated proven oil reserve of 133,442,000 barrels of oil comprising of
54,850 million barrels of crude oil reserves - 43,955 million barrels of NGL reserves and 207,823 million cubic feet of natural gas reserves.
The company also has upcoming merger with the Viking Energy Group Inc. which is estimated to close within the next two months.
FSLR Support and Resistance- WatchlistNASDAQ:FSLR is a leader in the solar industry which will likely become a leading industry. I like this stock to begin pulling back after having a great start to the month. After this consolidation (watch for a bounce off 75.73) I believe that the upside is great. Break in 81.85 would likely lead to a test of 87.89. Earnings will play a big role in this and a beat or an upgrade could lift this stock greatly. Not seeing any outstanding patterns on the chart and most indicators are showing a downside.
Solar Cycles & The Stock MarketWe have recently moved in the 25th solar cycle in which they last around 11 years on average. They have a start period and then a maximum Q or intensity of energy at certain points which are in blue.
If everything in our theoretical universe follows the sun, then why not markets as well?
Comments feedback & collaboration welcomed,
Golden Ratio.
CLV:ASX - CLEARVUE TECHNOLOGIES - Glass into Solar PanelsI like the idea that ClearVue Technologies produces clear glass that generates electricity as well as that they are happy to grow their business through licencing and royalty payments (I've been watching too much of Kevin O'Leary aka Mr Wonderful on Shark Tank). Looking at all the sky scrapers and buildings in modern cities you know at some stage they will all become giant solar arrays. Up just under 500% since their March lows, but still a long way way from their previous all time highs I like the idea. They just need some more sales on the board. Could be worth a watch.