board pundits have been discussing how badly APS will suffer and which companies will suffer the most. Optimism has been reduced to which companies will suffer the least...and dreams of solar profitability this year are non-existant. This is reflected in stock prices and confirmed by last weeks unbelieveable flip-flop action in solars. How badly can they rub it into us?
But wait! The technical undercurrents in solars shows a subtle but major shift. Most of these stocks have been building bases for the past 3 to 5 weeks with FAVORABLE chart and volume patterns, LDK being the exception. UP days have been in higher volume with selling in lower volume...just what you like to see. Here's the proof: The most favorable stocks are listed first:
SOL: Everything is going right here. The only solar above its 50 day MA and now with arms reach of breaking above its 200 day MA...with no other solar close to doing this. Up days have been in big volume and down days in light volume. On top of this a powerful "wedge" pattern has formed over the past 6 weeks.
TSL: Shows uncanny resilience with the past few days, and volume patterns have been excellent within the past few weeks. At the moment this stock is defying gravity. I expect it to break above it's 50 day MA quickly and up to 9 in a flash. Wish I bought last week...but still early in the game.
STP, YGE, JASO: All of these show the same positive action...positive volume action in the last two weeks, solid base building and favorable chart formations to support this. All have yet to stay above their 50 MA in volume but are withing easy shot of doing so.
CSIQ: Has the same favorable volume patterns as the above stocks but has not built a convincing base pattern. Nevertheless, it too is close to breaking above it's 50 day MA, and it may not be necessary to build that base.
HSOL: Has favorable volume patterns in the past two weeks, but not as strong as the above solars. It doesn't look like it wants to get above its 50 day MA, but continued positive momentum from other solars could change that.
LDK: Nothing favorable about this technical picture. forget about it for now.
Yes Saleem, we solar loyalists die hard. It's the cocaine of energy related stocks.
When solar slaps our cheek, we turn our cheek to the other side for more abuse. Waiting for the day of profit is an elusive chase with no date in sight. A wise man should wait like like you say you are doing.
It seems that we have one step forward, then one step backward. Strong Friday, weak Monday. seems always unpredictable.
Hobo aside, let us pull sleeves and make some money.
Hmmmm! Did I put Rockinghorse on Ignore or if he disappeared?
Your technical report on solar stocks are a treat to read. Instead of "opinions" & "rehash of cc PR", you actually try to present a snapshot into everything Solar.
Technical analysis is also a snapshot into recent past, thus a mix of FA & TA is highly desirable.
I am waiting for solar as a group, to post a quarterly profit......that can be a very long wait this time......
thank you. I agree on this take. supply is too high but comps wont accept losses for too long.
we trade H2 today and momentum crowd might speculate on upturn and just take-over control again - as they do every 6 months in any case.
at least the last 4 years or so.
bankability of module makers will get much more important going forward as well !