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.
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.