Top 10 MarketSmith Winners from the Energy Sector

Energy stocks were on a mission Monday as solar energy stocks took the MarketSmith Top 10 list. At the same time oil and gas stocks continue their persistent march higher.

Biden announced a executive action with put a two-year pause on solar equipment tariffs coming from Cambodia, Malaysia, Thailand and Vietnam. Imports from these countries would be allowed to restart following the Monday comments from the White House.

Additional executive orders will allow for domestic U.S. production of solar panels and other clean-energy technologies. The Defense Production Act was cited as a means to engage with domestic industries, while spurring increased production of U.S. manufactured solar panels.

Energy Stocks

Enphase Energy (ENPH) and Jinko Solar (JKS) moved higher on Monday, with the latter breaking out on the blue dot scan. RS line rose to 97 as Jinko continued its march to 52-week highs. Jinko gained 7.98% with Enphase adding nearly 20 points before closing up +5.41% for the day.

Enphase Energy (ENPH) and Jinko Solar (JKS) moved higher on Monday, with the latter breaking out on the blue dot scan. RS line rose to 99 as Jinko continued its march to 52 week highs.

Generac Holdings (GNRC) and Sunrun(RUN) posted handsome gains of +5.75% and +5.94% respectively on Monday. Sunrun (RUN) notched broad early gains of +5.94%.

Canada based Canadian Solar (CSIQ) gained 0.39% on the day, while China-based Renesola (SOL) gained +1.24% and Daqo Energy (DQ) added +12.07% by the close. 

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Happy Trading, 

Vinny

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