01May11:55 amEST
Alternative Energy; Traditional Concepts
Last weekend on Stocktwits I posted a weekly chart of for the TAN ETF of the solar sector, updated below. The crux of the thesis was that prior highs were likely adding to the initial, overhead supply found with the weekly candlestick from two weeks ago, noting the fade.
Even though solars are higher today, a name like FSLR is faltering and the overall gist of the weekly chart is one of those prior highs inflicting some resistance here.
Ideas such as CSIQ and JKS are still basing along. But just as with energy stocks the idea was to recognize prior supply and not chase into it.