3S9 trade ideas
Falling Wedge- BullishBig falling wedge on RUN that it's been holding for quite some time now. The solar sector tends to be cyclical with respect to price action, which in turn leads to big breakouts and vice versa (See charts of ICLN & TAN). With all of the intraday choppiness and the broader markets seemingly starting to pull back a bit as big tech takes a breather, the solar sector had surprisingly good relative strength on Friday with FSLR, NOVA, and RUN managing to close green on the day.
- Bollinger bands squeezing, closed Friday sitting right on its 20-day SMA (Not Pictured), and some slight bullish divergence on the RSI. Will be looking for a breakout from this falling wedge (broader market conditions permitting)- Just some support and resistance levels along with some RSI-based supply and demand zones to keep an eye on
PT1- $48.99
PT2- $50.27
PT3- $53.33+ Breakout
ICLN
TAN
$RUN - Possible inverse Head & ShoulderPossible inverse head & shoulder forming. Right shoulder has yet to complete.
Break above neckline is bullish. Rejection from neckline is bearish.
Neckline - $58.81
Target 1 - $58
Target 2 - $68
Target 3 - $76
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines shows support and resistance areas.
- Fib lines also shows support and resistance areas.
- The dotted white lines shows price projection for breakout or breakdown target.
Disclaimer: Do your own DD. Not an investment advice.
$RUN. Go up!The upside targets are $69, $82.4, $98.
Today the paper broke out of the channel that it has been in since March.
It closed at the point where the 100-day came up to the 200-day and closed above the 51.6, which was the support level.
Also, the volume yesterday was the highest ever.
A pullback to the upper boundary of the channel is possible and then technically there should be a good move upwards.
It's my personal opinion and not investment recommendation.
My View on SunrunRun is trading at $47.73, and huge volume coming.
My short term is,
- Option 1:
I enter the trade at the current price at $47.73 - $48.50, take profit at $56.20. If the price action is very bullish, I will "delete" the take profit and increase stop loss to $50.80. Then. take profit at the target 2.
- Option 2:
I might wait for the price pullback, and test the strong support zone at $46.70, i might enter around $47 to $47.50, and take profit at the target 2.
Comment your ideas please...
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This is not financial advice. I'm not a Financial Advisor.
Trading is a high risk, do your own DD.
Let me know what you think
Cheers, I would share all my thought next time.
PEACE.