Since the beginning of March this solar ETF entered into bear channel and was laggard sector vs broad market as investors were buying major cap, high dividend stocks.
Nevertheless, it is just 38% pullback from big move from $15.00. Now, it builts higher highs and higher lows - strength of buyers. Yesterday, it closed near highs and broke previous dwing high at $42. So, it could be our point of potential support, then we have 8/21 EMA $40.60-$41.20 respectively. Previous low at $39.09. Target #1 $44.30ish.
Some stocks from this sector that are showing strength: $FLSR, $SCTY, $SPWR, $TSL.
Nevertheless, it is just 38% pullback from big move from $15.00. Now, it builts higher highs and higher lows - strength of buyers. Yesterday, it closed near highs and broke previous dwing high at $42. So, it could be our point of potential support, then we have 8/21 EMA $40.60-$41.20 respectively. Previous low at $39.09. Target #1 $44.30ish.
Some stocks from this sector that are showing strength: $FLSR, $SCTY, $SPWR, $TSL.