$SPWR lagging against others in the solar sector during the last two months (see SPWR/TAN). Has slack to play catchup as the 50 day takes the lead again.
I'm basing my more bullish than bearish put sale on the Gap, wick, volume, candle, bounce off the EMA's on the 5 min, and the put sale is below the 200 SMA.
SPWR expected to open at 32.35 for a Gap N Go. Watch for nearby pivot and last candle bullish on the hourly. To learn this strategy for free go to www.RealLifeTrading.com
Short squeeze could take this as high as $44 in days to come. A little 1.27 rejection and consolidation should take place before moving to 1.618 target. Would not consider entering short at anytime given the last 8 months of consolidation. Inverse HnS suggests a ~$9 move from breakout.
this is my personal opinion on how to play SPWR in the next 5-10 years so this means this is a long term wealth investment play
My personal strategy is to load up on SPWR as long as it stays under 40 and then manage it once it trades above 50 until it hits my PGT 1 in which I would place a stop loss at that level once it moves a bit higher from that level toward PTGT 2
Looks bullish here as it is touching the resistance level around 36 and if it b/o of that level w/ volume then it could go to tgt. #1= 42 which is the 23% Fib ret. level from the 11/07' high & then could go to tgt.#2= 65 level which is the 38% Fib ret. level
The average volume for SunPower Corporation has been 2.7 million shares per day over the past 30 days. SunPower Corporation has a market cap of $3.8 billion y.Currently there are 4 analysts that rate SunPower Corporation a buy, 1 analyst rates it a sell, and 5 rate it a hold.
YESTERDAY WE NOTICED A HIGH VOLUME WITH BULISH INGULF BREAKING 31.79 , I WOULD EXPECTED...
Usually SPWR crashes a little after earnings because of big run up weeks before hand. This time it's actually going into this earnings trending flat/down...I prefer that.
SPWR in minor retracement period and good time to buy. The .618 speed line should provide support and new bull rally should begin when price action can break above 40d-sma.
