Stocks Breaking Out
National Fuel Gas (NFG) is a diversified energy company. The Company is engaged in the production, gathering, transportation, distribution and marketing of natural gas.
The company reported Q3 earnings of $1.54 per share on revenue of $502.6 million on August 4. Revenue grew 27.4% on a year-over-year basis.
National Fuel Gas (NFG) broke above an entry point of 73.02 based on a first-stage cup and handle pattern that formed over the past 3 months. Additionally, the buy zone extends up to 76.00 (+/-), the blue shading. THe RS line also turned higher on Thursday, to 91 to end the Thursday session.
Canadian Solar (CSIQ) designs, develops, and manufactures solar wafers, cells and solar power products for the alternative energy markets.
The company reported Q2 earnings of $1.07 per share on revenue of $2.3 billion. Revenue grew 61.9%.
Canadian Solar Daily Chart
The stock broke out through a 43.24 buy point yesterday after rising for four weeks straight. The stock closed 7.85% higher on extremely heavy volume, while the relative strength line popped to new highs.
Canadian Solar Weekly Chart
CSIQ also broke out of a descending channel that started forming in late January 2021. Over the past 4 weeks, the stock has rallied more than 32.91% from the channel breakout zone. Volume peaked at the highest level seen in over a year.
CSIQ had its relative strength line leap to 97 placing it formly on the blue dot scan for the week.
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Vinny
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