Solar stocks were hot today. Big moves on FSLR, CSIQ and SPWR and the solar ETF TAN. Also the biotechs are looking much stronger (LABU). We could see biotechs lead the market.
CALA: Nice move on CALA today traded it for nice profits today. It broke out of a mini wedge today and traded as high as $20.00 closing at the high of $20.00. If the markets are strong tomorrow this stock should trade up to $21.00. Longer term the price target is $26.00. It is at the bottom range of the up trending channel so has lots of room to move.
CTRL: Stock popped out of a wedge formation and traded as high as $22.90, closing at $22.76. It is right at the top of the up trending channel and lateral resistance. It needs to break through $23.00 where I would look to go long. Price target $27.00 and $29.00.
EXEL: Stock broke out through lateral resistance today $26.00 trading as high as $26.80 before closing at $26.61. If momentum continues the next stop is $30.00 Shor ratio, 5 days to cover.
KEM: Nice move on KEM that I traded for profits today. Stock broke through lateral resistance at $15.00 and traded as high as $16.00, closing at $15.94. If the move continues $17.00 is the next price target.
SPWR: A solar stock popped up nicely today. I am long overnight from $10.05. It broke through lateral resistance trading as high as $10.19, closing at $10.16. I will look to add to my position over $10.20 with $11.00 and $12.00 as price targets. Short ratio, 8.5 days to cover so could add some momentum to the trade.
SQ: After consolidating for 4 weeks the stock broke out of a wedge formation yesterday and continued through today trading as high as $26.44 closing at $26.21. It is near the top of the up trending channel so may have to consolidate in here before moving higher. But if the momentum continues, look for $30.00 in the short term.
Thanks
Turbobob is there any dvd's or videos from Tim's Challenge program that gave you an ' Aha!' moment or did you have that moment before Tim's Challenge?
None gave me the "ah ha" moment. Watched them all and learnt the different patterns.
Thank you again Turbobob, cheers!
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