PBW Clean EnergyBack to the lows
Will the sector be starting back up soon? Or base here for a few months to years then go?
Not financial advice
PBW trade ideas
Macro dashboard - Relative rotation graphsA modified version of Lux's Orbital graph that mimics Julius de Kempenaer's commercial trading tool, the Relative Rotation Graphs (RRG). Mods include:
Multiple time frame analysis: Default is the daily view, but has the option to go to lower (for quick day trades) or higher (for building long-term positions) time-frames
Expanded tickers from 5 to 38 for high-throughput analysis
Added number annotations to tails
Added hover tip-tool to give ticker and tail number. Super useful especially when ticker colours are very similar or charts are clustering together
Clean EnergyWith the recent focus on Europe and it's energy dependence on Russia I thought to highlight an ETF I think could work out on a longer timescale. The EU currently relies on Russia for about 40% of it's natural gas . With the recent war by Putin I think European countries will start 1) start rethinking on who they get their natural gas from 2) start moving towards becoming more self sufficient energy wise. I think you see some short term pain as they are forced to import LNG and Oil from other countries and then a longer term commitment towards renewables. Germany has already upgraded it's goal to by 100% renewable by 2035 and I think you will start to see other countries fall in line with this thinking as well.
PBW is an index is composed of stocks of publicly traded companies listed on a major exchange in the U.S. that are engaged in the business of the advancement of cleaner energy and conservation or are important to the development of clean energy. Stocks are included in the index based on the index provider's evaluation that such companies will substantially benefit from a societal transition toward the use of cleaner energy, zero-CO2 renewables and conservation. The index has some global stock exposure to clean energy and the chart looks good.
Volume came in heavy today with a very small candle to breakout over the orderblock. If I can get a retest of some kind would be looking to go long. Ideally we could get that very small gap made today filled.
PBW outlookAs large institutions divest of conventional "non" green funds, that money will pour into the Green sector funds.
PBW Clean energy, Potential upside popMACD reaching levels that hasn't been touched since Feb/March lows. I see momentum taking us to newer highs, with a new trend higher into the rest of the year.
Time for PBW to resume its upward trend?PBW has been trading sideways after breaking down from its long upward trend (fueled by the prospect of clean energy stimulus in 2021).
PBW just above support level. Will it hold?PBW could be consolidating above the current support level but further upward momentum from here will take time. Waiting on a resumption back up - but for now am not holding PBW.
CLEAN ENERGY REIEWHere you have a review of the etf i use to trade clean energy. We have a possibility for it to get to the second cup
