14May3:01 pmEST

Solar Living on the Edge

Given the downright atrocious price action in the likes of the OIH, ETF for energy's oil services stocks, we can infer that the solar space continues to shine not as a bonafide alternative energy fuel source but on its own merits. Indeed, as OIH has been slipping for weeks in end with an already-putrid chart on virtually all timeframes, the solar space has survived the recent slew of earnings reports quiet well.

Domestic plays like FSLR RUN SPWR VSLR are all viable long ideas into strength, as is a name like SEDG. China's JKS has been hit a bit on trade war concerns but the sector is, by and large, in pretty good shape. ENPH and HASI are two other intriguing charts, both housed in the TAN sector ETF.

As for VSLR, we can see the updated Vivint daily chart, below, strong as an ox today after a recent, mild dip. 

Although plenty of hot money may be trying to rotate into cryptos and even software names again, sprinkling in some biotechs like MGTX today, I would not rule out a solar summer rally--The technical stars still seems to be aligned for one and if crude oil and especially lowly energy stocks firm up again I think solar could actually be in the best position out of all of them to capture the most upside with the best risk/reward profiles across the board.

Get Those Flags Right Stock Market Recap 05/14/19 ...

 
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