DQ - Long
Updated
As per the chart -
Buy on daily close above tight price coil as highlighted.
Confluences -
Price broke above long running downward trendline
RS showing new 6 month highs
Annual EPS +168%
Low Debt
Last QTR EPS +528%
Last QTR Sales +400%
New Polysilicon product facility opened ahead of schedule
Strong Relative Strength of Chinese Stocks
Rising polysilicon prices
Fossil Fuel prices support demand for Solar
Strong cash position (lower risk of dilution?)
Risks -
DO NOT HOLD THIS LONG TERM - until SEC Holding foreign companies accountable issue resolved
Chinese Stock - ADR Risk
China Covid lockdown risk
Repeated calls for Polysilicon to fall (not happened yet!)
Oil down 13% in 10 days
Buy on daily close above tight price coil as highlighted.
Confluences -
Price broke above long running downward trendline
RS showing new 6 month highs
Annual EPS +168%
Low Debt
Last QTR EPS +528%
Last QTR Sales +400%
New Polysilicon product facility opened ahead of schedule
Strong Relative Strength of Chinese Stocks
Rising polysilicon prices
Fossil Fuel prices support demand for Solar
Strong cash position (lower risk of dilution?)
Risks -
DO NOT HOLD THIS LONG TERM - until SEC Holding foreign companies accountable issue resolved
Chinese Stock - ADR Risk
China Covid lockdown risk
Repeated calls for Polysilicon to fall (not happened yet!)
Oil down 13% in 10 days
Note
Price holding just above Coil - tight stop still in place - will see what happens with this.Note
Stop wasn't hit on this yesterday, however closed out of 66% of position for a 5.1% loss. Will probably look to close the rest out as soon as markets open today given futures are pointing lower.
Trade closed manually
Position was fully closed out at the open yesterday as mentioned above
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