The solar stocks, FSLR, CSIQ, RUN, and JKS, among others, are beginning to move higher and away from the bullish 9/21/50d moving averages. This price action comes after the recent 8 to 10 week consolidation period comes to completion.
Watch option volume on solar stocks, FSLR, CSIQ, RUN, and JKS, as institutions position for higher prices.
First Solar (FSLR)
Price action is ready to clear the Volume by Price (VBP) resistance/support zone illustrated with the histogram on the left side of the chart. Strength of trend (RSI) is above 50. Respect the trend when above or below 50.
Stochastic, by design, is turning higher indicating you should anticipate closes in the upper half of the daily range. Momentum is turning bullish as MACD turns, as a function of price.
Volume suggests institutions are present and accounted for. Pay attention.
Futures are currently trading (+30) and above the 3600 gamma zone. SPY ETF is trading above 360.45 (+3.00) in the early session.
Markets are closed Thursday. Enjoy your turkey and family.
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Happy Trading,
Vinny
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*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
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