SPWR trade ideas
Sunpower - Descending Triangle - Bullish Breakout SoonDescending Triangle Formation, Sunpower in a bullish trend, breakout imminent, likely Thursday if not sooner.
Upward regression channelNear support, ready to move back up to $30+ with Solar power friendly Biden inauguration?
SWPR BUYEntering again, , look ready to move forward. Held support of FIb level 61.8 well, Broke above previous broken structure and retested. Lets see how this plays out! Engulf on higher time frame will look extremely good for the solar market.
Bat Pattern SPWRlong D ext (w bullish price action @.886) stop below x follow arrows for take profit levels
SPWR, Aroon Indicator entered an Uptrend on Dec 22, 2020.Over the last three days, Tickeron's A.I.dvisor has detected that SPWR's AroonUp green line (see chart) is above 70, while the AroonDown red line is below 30. When the green line goes above 70 while the red line stays below 30, this is an indicator that the stock could be poised for a strong Uptrend. For traders, this could mean going long the stock or exploring call options in the next month. Tickeron's A.I.dvisor backtested this indicator and found 169 similar cases, 148 of which were successful. Based on this data, the odds of success are 88%. Current price $29.84 is above $20.79 the highest support line found by Tickeron A.I. Throughout the month of 11/19/20 - 12/22/20, the price experienced a +46% Uptrend. During the week of 12/15/20 - 12/22/20, the stock enjoyed a +23% Uptrend growth.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on December 15, 2020. You may want to consider a long position or call options on SPWR as a result. Tickeron A.I. detected that in 78 of 100 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 78%.
The Moving Average Convergence Divergence (MACD) for SPWR just turned positive on December 16, 2020. Looking at past instances where SPWR's MACD turned positive, the stock continued to rise, Tickeron A.I. shows that in 32 of 44 cases over the following month. The odds of a continued upward trend are 73%.
Following a +20.20% 3-day Advance, the price is estimated to grow further. Considering data from situations where SPWR advanced for three days, in 236 of 295 cases, the price rose further within the following month. The odds of a continued upward trend are 80%.
SPWR swing ideaSwing trade idea: $SPWR 1-2 week trade, price target $26. Please note that the momentum is shifting upward (indicated by the magenta bars on the TTM squeeze indicator)
12/8 Zacks article excerpt: “SunPower designs, develops, manufactures, markets and sells high-performance solar electric power technology products like solar cells and panels. The company boasts a solid four-quarter average earnings surprise of 49.23% and is estimated to generate earnings growth of 324.3% in 2021. It currently carries a Zacks Rank #2 (Buy).”
Called this one a few days back...$SPWRTargeting $24-25 - Already up 12% on this one. Congrats if you hopped on.
Back to $SPWR - Now breaking out of bull pennant. I added to my position today. Let's see if this can hit $23, then start pushing back to it's ATH's.
INFLATE THIS BABY TO THE FULL 100 - SUNPOWER As with many tech companies. I believe the Solar's will be a 100xPE ratio. SUNPOWER is on my watch!
SPWR on watchTAN etf had a strong day and solar has been showing relative strength going into the election.
I like SPWR long above the box to targets. Best entry would be on a tight pull back or consolidation
at highs.
In the case of a Biden winHere is my prediction:
We will see some volatility in the short term due to the election. Run-up if Biden wins, correction if Trump wins.
But the world falls back on renewable energy. So the mid-long term outlook is great for this stock.
Even the technicals are good, we had a breakout on the monthly chart.
