$SPWR Alert: Big Bounce Coming SunPower Corporation (NASDAQ:SPWR) has been beaten worse than most other solar stocks. Compared to its peers First Solar, Inc. (NASDAQ:FSLR) & SolarCity Corp (NASDAQ:SCTY) it is down much further. While it may seem all doom and gloom for this solar name, there is a bullish signal that just appeared today. The daily chart is showing a bottoming tail. This is a bullish reversal candle that likely means a bottom is in the stock. Note the chart below. Gareth Soloway InTheMoneyStocks
Alcoa Inc Signals A 30% Move Coming! Alcoa Inc (NYSE:AA) has been chopping sideways over the last month. This is coming after a sharp two week fall. Technical analysis tells us that this chart pattern is a bear flag formation. Bear flags on the charts are price consolidation that occur before the resumption of the previous move. Since the previous move was sharp downside, this indicates that further downside is on the horizon. The downside target on this trade would be $6.75, marking a fall of over 30% from current levels. Note the chart below... Gareth Soloway InTheMoneyStocks
Oil Drop: Just The Start To Reaching $40 Target The spot crude price action is playing out exactly how chart readers predicted. To understand this, you need to look at the chart and recent price action. Spot crude topped out around the $52 per barrel level. This was a psychological resistance point because it was a perfect 100% move from the $26/bbl lows in early 2016. Logically it makes sense this would be a top. From that $52 level, oil fell sharply to $46. While only slightly over a 10% drop, this price action combined with the 100% price move up prior, claims a technical top by technicians. Let's also not forget how overbought crude oil was and how every analyst/market commentator was bullish at $52. For those of you that do not know, when everyone is bullish on a stock, commodity, currency, ect, that is a dead on signal that the top is in. Think about the bearish sentiment at $26 that turned out to be the bottom. It is always the opposite of the masses. Bottom line is, with a top at $52 and a pullback to $46, you would expect a buy the dip bounce. However, any bounce is a short sell as long as the $52 is not breached. Sure enough, price shot back to $50+ this morning only to talk on oil inventory numbers. The next drop will take out the $46 recent low and extend itself another $6 to $40/bbl. Look for this to happen within a week or two. Learning how to read the charts is the difference between profits and losses. Note the chart below... Gareth Soloway InTheMoneyStocks
Huge Buy Signal: Whole Foods Market, Inc. Whole Foods Market, Inc. (NASDAQ:WFM) opened above two major trendlines today, confirming a breakout. The stock has been under heavy pressure after the FDA found some violations at one of their food processing plants. The stock has seen a drastic decline but now appears to be turning the corner. Note the two down-sloping trendlines on the chart below and how price opened above them for the first time in recent history. This could spell a sharp move higher in the coming days. Potential upside on the stock in the next week is to $32.50. Gareth Soloway InTheMoneyStocks
