SOLAR Stock BREAKOUT!
By Bennett Tindle August 2nd, 2022
After a year of minimal progress on President Biden’s ‘Build Back Better’ plan, the democrats finally announced a deal last Wednesday with support from Senator Joe Manchin.
Although there’s still progress to be made, the now “Inflation Reduction Act” may be the first catalyst to ignite a technical breakout that was already in the making…
This is a breakout we’ve been expecting and tracking with clients…
Yet while $ENPH has rallied over +70% since we first introduced it to clients, and $SEDG has rallied over +50%, we feel there is STILL ROOM ON THE UPSIDE.
In fact, we have these stocks back on watch in our August Playbook, and are targeting low-risk swing entries soon…
In the meantime here’s a scan from Terry of the Invesco Solar ETF, ticker $TAN, including a breakdown of my weekly Elliott Wave count.
Enjoy!
CLICK HERE to Download our latest $TAN Solar Stock PDF Guide!
Disclaimer: This is not a recommendation to buy at these levels, rather take this short list and screen through your own trading/investing filter to determine if they fit your criteria. These characteristics indicate these stocks are likely to be leading the advance should the market confirm a bottom and we see upside continuation in the broader market.
We’ve been tracking the weekly chart of $TAN for months…
It tried to hold a low back in February, but eventually broke it in May…
Yet both the February and May area low found support near an equality projection of the March 2020 decline…
If you know anything about Elliott Wave, you know corrections of the ‘same degree’ or timeframe often tend to be equal…
Which means we likely just completed a 4th wave pullback, and are now gearing up for an explosive break higher…
Watch trendline resistance on the move up, as Wave 5 breakouts can be tricky.
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TAN Solar Stock Breakout!
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