On 18th, ESLR announced that it had secured another 600M in contracts bringing its backlog up to 1. 7B. If someone knows that there is better than 5050 chance that stock will rise dramatically after cupandhandle&q… rana AM technical analysis is just another name for probability play. One week after writing that am shortterm bearish and longterm bullish on many of the stocks in the solar sector, Evergreen Solar ESLR responds to my direct critique with another blockbuster announcement. After fading bit from those levels, ESLR made strong close, finishing with an impressive 20 gain.
You can then surmise that since business has improved for ESLR, and contracts have been signed that will bring in revenue, that ESLR could very easily challenge those former highs around 18 if the good news continues. This announcement was wellcoordinated with an analyst day on the following day. Another fade would invalidate the bullish signal and raise even more alarm than the last fade did. The chart below shows that ESLR has conquered the doubleresistance at 12 that proposed as ESLRs first proving point.
User AM You, Ernie, are missing your calling… However, given the overbought stochastics, price stretched well above the upper Bollinger Band, and next overhead resistance at 13, would prefer to buy ESLR on pullback. The others will run with the momentum players. As noted in my last missive, the 22nd announcement of 1B in new contracts was with strong fade and indicated market skepticism. RobDC PM Technical analysis can provide invaluable insight into human nature, the psychology of optimism and pessimism, and the impact of fear and greed on stock price. They went from 26 per share to 290.
RobDC PM Technical analysis can provide invaluable insight into human nature, the psychology of optimism and pessimism, and the impact of fear and greed on stock price. ErnieMontague AM As with technical analysis yes, it looks good unless things bad, in which case it looks bad, but it will probably go up unless it goes down. ESLR has been laggard, and this should reflect its catch up to valuations in the remainder of the solar space. stock chart can show you stocks past behavior when they earnings expectations, or stocks likelihood to weather stormy macroeconomic times.
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