The stock is now in the anticipated target area and should be a buy between $16 and $15
Month: March 2014
FSLR , SCTY and CSIQ (not shown)
For more info please review previous blogs. Looking at this trio of solar companies it sure looks like the tide is going out again. Here are two charts;
We chose these two because they both sport a very distinct “wedge” formation. In both cases there is some overlap and in the case of SCTY the lower trend line is already broken decisively. On the first chart we think we are looking at a C wave whereas on the second chart it is a 5th. CSIQ is simple overbought. All three are a sell.
AC/A Air Canada update
We are within spitting distance of our target established on Feb. 12 of about $5. A number of EW counts are possible here so we prefer to take our cue from other technical indicators. The RSI is close to a low and the 200 day moving average has krept up to meet the stock’s value. If short we would buy the stock back but going long “naked” is a more dubious proposition.
BLD, Ballard update
A day before it happened we warned that this stock was in for a drop after a little push higher. Precisely what it did. The drop turned out to be a little more violent than initially anticipated, whipping out about 50% of all previous gains. Presently we do not know if this is a wave 4 with new highs to come, or if we are still in the pull back that will become more complex. Either way we would stay out.