Solar stocks follow energy prices (crude oil) and AMEX:USO (oil etf) is about to break out. I read that chinese are outcompeting the west in cheaper solar products. ie NYSE:JKS
TNX is at bull market, crude oil and yields correlate (not sure which one cause the other).
I look at everything trough probabilities since nothing is ever known.
Stocks do bad when...
The Invesco Solar ETF is based on the MAC Global Solar Energy Index (Index). The Index is comprised of companies in the solar energy industry.
Wall Street investors have only short-sold the future of the planet! They have shorted all the players that could be a solution to climate change (personal opinion).
With the upcoming U.S. presidential elections, I...
Who says you cannot make big returns on ETF's?
AMEX:TAN the Solar Sector ETF Is on fire. It looks like rotation back into the beaten-up sector. Names Like NASDAQ:FSLR and NASDAQ:ENPH up even more. Rather than take the risk on an individual name I have opened a ¼ sized position in this ETF. I will be looking to bring this up to a full-sized position on any...
The renewable energy sector has not had a good year because of rising interest rates. Most of the companies are debt-financed with thin revenues but they offer significant future value as companies and households turn to a sustainable source of energy.
If the first rate cut is announced mid 2024, clean/renewable energy companies and ETFs will have a stable...
2024 could be another terrible year for renewables.
Renewable stocks have done terribly since inflation picked up. With high rates and therefore high costs of capital, renewables projects "with the promise of zero-to-no OpEx" are facing CapEx rates that are having companies and individuals pull out of renewables commitments one after the other.
Solar stocks that make up the largest holding of Solar ETF AMEX:TAN all appear to be bouncing off of a support level after a very long and tight consolidation. Could be ready for a larger move over the next few months, but expecting a bounce to at least the larger resistance zone at around $75 in the next week or two. Noticed large volume on July $72.50 calls...
Observations
A triangle continuation pattern seems to have formed over the last few years
RSI 50 (1M) seem to be acting as resistance
My guess is that if 50 if RSI dips below 50%, price will drop as significantly. _If_ price action keeps RSI > 50, then the continuation patter would likely play out.
If the ETF crosses the $84.03 mark during next week a huge rally can take place, daily charts are already bullish for a few days, I got into a position in $FSLR, $ENPH and $RUN recently, but might add an ETF position in $TAN as well if the weekly signal outlined here triggers.
Note that price crossed over the entire post COVID low till today Volume Profile POC...
1. "Flag (Bullish)" chart pattern formed on Invesco Solar ETF (TAN:NYSE). This bullish signal indicates that the stock price may rise from the close of $75.80 to the range of $92.00 - $94.00. The pattern formed over 9 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical analysis.
...
Orange directionals : Fast recovery to the upside, top out earlier than other possible directionals. The drawback is a risk of longer term decline. At the end, the challenge to the bottom middle blue line might occur here. Increased volatility is due to the distance between top and bottom.
Blue directionals : Correction continues to the downside and bring...
Using Tan as an example, we see how we can identify periods of Accumulation and Distribution for the solar industry. My custom ADX, CCI strategy gives signs of accumulation, over buying and over selling. I've marked those points on the chart. Presently signs of uncertainty in both directions as the range sets lower highs and higher lows. This is a sign of...
Looks to me like this downward trendline will be broken and price will see a significant move higher. Judging from Monthly chart, it will not just be to the upper 90's target area, but eventually higher, possibly 125.
Longterm position taken in TAN solar ETF.
Immediate structural resistance near 47. Major resistance at 50-618 fib extension from ATH.
Any break and close of Hagopian line will threaten longer term count.
TAN for the 3rd time made a diamond reversal pattern near the base of an upchannel. However, diamond pattern may also be a continuation down pattern possibly for a retest of 68.
TAN also had a big red wedge fro 126 2021 ATH & is now retesting this wedge falling below weekly wma50.
BULLISH BIAS: There is a strong chance this channel will be recovered considering...
So the idea is based on a paired trade or what I think of as a hedged trade. Paired in that I am buying two things that I think may be correlated but both will not necessarily do well. If one does well the other may not do well and vice versa. My idea is to buy this solar energy etf as a hedge against all of the silver mining companies that I have perhaps...
$TAN #1 group #solar #ETF is setting up very nicely.
I'll let the chart speak to itself.
For new followers, you need to read the books in my pinned tweet to understand my process and how I do things on this feed.
