SPWR Earnings Slightly Better Than Expected: Plotting a Re-entry
Sun Power spent a solid month between 9.5 and 10.5 per share (The first "idea" of mine was dated July 15th calling for the potential LONG on it).
It closed today at 11.5 and then reported earnings which were slightly (decently even) less negative than the projections yielded. That said, its bull run should be somewhat tempered by a negative report even so. A good re-entry point is near the top end of its corrective wave - targetting a 10.5 to 10.7 re-entry. SPWR is trading at its annual high; a recapturing of its former glory at 16+ per share is not inconceivable, though had the earnings report trended closer to a break-even this would be even more of a "must buy."
The average cost was 9.51 before a re-positioning (now) which has not really worked out so brilliantly, but a FOMO buy must be avoided and the proper call is to wait for a slight recoil, at least under the previous high-end of the corrective wave sequence seen in the Handle. Thus, we remain bullish, but hardly obnoxiously so -- if I had a TV Show I probably wouldn't be a screaming "BUY NOW" but I would absolutely keep an eye on SPWR the remainder of the trading week with the re-entry points mentioned highlighted as alerts.
Thanks.
It closed today at 11.5 and then reported earnings which were slightly (decently even) less negative than the projections yielded. That said, its bull run should be somewhat tempered by a negative report even so. A good re-entry point is near the top end of its corrective wave - targetting a 10.5 to 10.7 re-entry. SPWR is trading at its annual high; a recapturing of its former glory at 16+ per share is not inconceivable, though had the earnings report trended closer to a break-even this would be even more of a "must buy."
The average cost was 9.51 before a re-positioning (now) which has not really worked out so brilliantly, but a FOMO buy must be avoided and the proper call is to wait for a slight recoil, at least under the previous high-end of the corrective wave sequence seen in the Handle. Thus, we remain bullish, but hardly obnoxiously so -- if I had a TV Show I probably wouldn't be a screaming "BUY NOW" but I would absolutely keep an eye on SPWR the remainder of the trading week with the re-entry points mentioned highlighted as alerts.
Thanks.
Comment:
As of just after Noontime EST, it is marked @ 11 per share. The re-entry point is another half-buck down, but we'll wait this out (by we I mean me! lol). Ty readers.
Comment:
There was no point of re-entry provided by $SPWR - I missed the bus by departing my position early, but the break from the cup & Handle to a full on hyperbolic run happened. I have to trust my own projections more in the future. Thanks.