ICLN has created the three drives down pattern to the proper fib levels and is primed for a reversal to the upside. This would break the short term down trend and return back to the long term uptrend. Near 100%+ retrace of the last drive is common in such a set-up.
Last time on a Biden clean energy play... I drew with my crayons. Hit my trendline target after having IV contract and volume die down. The only problem from here would be if ICLN continued to sell off. I kinda wanna save my money for other leaps, but clean energy at this discount is hard to pass up. Most of the high options volume I saw have been offloaded, but...
Based on wave count, momentum and fib price and time extensions, I'm thinking we can expect NASDAQ:ICLN to go down over the short term. Possibly to $28.66. But... I have a hard time making this call because the uptrend seems so strong. What do YOU think?
look for the bottom trendline support to be tested then enter and target the top one, entry 28, stop loss 26 price target 32. goodluck traders
Once in a while, you may also be able to use unusual options activity along with volume. I saw that ICLN had 10k OI on strikes above $30c. It's possible to say that some big money is pumping ICLN with the delta hedge (along with other clean energy stocks with their stupid price targets). At the same time, ICLN started making its rounds at other finance subs like...
... for a .56/contract credit. Notes: A new addition to my liquid exchange-traded fund list ... . With 30-day at 53% and the at-the-money short straddle in the February cycle paying 15.6% in credit as a function of stock price, going Plain Jane short put at the 18 delta strike with a 23.44 break even. 2.39% ROC at max as a function of notional risk. Will...
This Volume spike and huge upward momentum indicates a top in my book, but we'll see
Clean Energy ETF should benefit under Biden administration. Looks oversold, RSI hitting support, TTM pointing to a buy currently - loving this set up, in some Feb. calls
I am already beta hedged with xle/icln (long term) but I am trading this level as a simple independent non hedged short ( technical based ) . Good luck ~
A detailed analysis on the subject of the expected green revolution in this decade. I won't dwell into the chart technicals' instead I will focus my attention on the fundamentals, in three key bullet points: A) Firstly, I chose ICLN since it's by far the largest by volume and assets, green ETF. Interestingly it has had quite an abysmal performance relative to...
Some thoughts around long position on Global Clean Energy ETF. Not a financial adviser, only playing around and learning.
If Biden/Harris win in 2020, this ETF will skyrocket. Great trend as well
Solar & wind keep on keepin on
After 9 yeas of consolidation $ICLN built a trading range with a series of higher lows and has recently broken out on monstrous volume. Institutional investment is written all over it. This ETF serves as my bias for starting a stock portfolio based on environmental sustainability. The shift to green energy is an undeniable trend that I'll eagerly follow, along...
Using a combination of chart techniques such as the DC channel; FIB; ADX and MACD to determine the direction and support / resistance. My humble view of ICLN is that it will retrace towards 10.62 range as the near support area. If we look at the ADX, though weakening, DI- is still relatively strong which reflects that bears are still in control. MACD is...
ICLN has been following S&P For the past year... yet after a fantastic Q1 surprise the stock has been retracing to it's 8.75 support level.. which has now bounced. Earnings have consistently beaten the estimates. Note the exact same pattern in November 2017..with the same support level and the same relation to S&P.