SunPower Corporation designs, manufactures, and delivers solar systems to residential, commercial, and power plant customers worldwide. The company provides solar power components, including panels and other system components. It also offers commercial rooftop and ground-mounted solar power systems, residential mounting systems, and power plant systems, as well as utility-scale photovoltaic power plants. In addition, the company offers operations and maintenance services, including remote monitoring, and preventative and corrective maintenance services, as well as rapid-response outage restoration services. Further, it leases solar power systems to residential customers; and sells inverters manufactured by third parties. The company serves investors, financial institutions, project developers, electric utilities, independent power producers, commercial and governmental entities, production home builders, residential owners, and small commercial building owners. SunPower Corporation also sells its products to dealers, systems integrators, and distributors. The company was incorporated in 1985 and is headquartered in San Jose, California. SunPower Corporation operates as a subsidiary of Total Energies Nouvelles Activités USA, SAS.
Reported after close today (5/5/16) Earnings: EPS -$0.30 Revenue $433.6M Estimates: EPS -$0.20 Revenue $328.53M Down 2.79% after hours
March highs here, I think we pull back but watch for new highs as a sign that thing will finally change!
all the credit goes to @Onepoint272 I can't take any credit except reading his post and getting in....lol
I was thinking the same thing @Bodacious. After the big win, I got back in and stopped out for a small loss and then today, Friday, I got back in again on what may be a low volume test of Tuesday's spring. Daily bars:
SunPower has the best cells and yet it is not a money maker. I find a lesson in this. Retail solar needs a consumable business model. Few people will arrange bank financing, work through a permitting process, and take on a project of retrofitting their home with solar panels. These folks are out there but they are a small minority. The successful solar retailers are selling it as a service. Solar up take is a lot higher for companies that offer consumers a single signature and a long term power purchase agreement. Solar is exactly like the cellular industry. Don't look for the best phone. Look for the best plan.
This seems to have a propensity for being a one-day-rally wonder but I decided to hold for another day to let it prove this is not just an upthrust. Today's low was 14.08 and the AR was 14.01. Encouraged that it found support today above 14.01 and closed near midrange. Thinking of moving stop up to just under $14. If it gets under 14 then I think it may go for printing an LPS in the 13 area. The 16.04 line will likely bring in sellers. Daily bars:
Well I did raise my stop to just under 14 and then raised it again this morning to just under 14.60. So I'm still in from 12.45. Next week's pivot is at 14.30, so will need to watch it closely Monday morning as I may have to make a decision. I have no problem getting taken out with a 17% profit and then buying back in. 65-minute (~1 hour) bars:
SPWR is IBD's stock of the day. Getting attention in the D to E phase...that's bullish. https://www.investors.com/research/...s-bright-in-hot-market/?src=A00220&yptr=yahoo https://www.investors.com/research/...s-bright-in-hot-market/?src=A00220&yptr=yahoo
Stopped out on Monday, Sept 23rd for a $1041.50 gain after commissions, after which it did not quite test the weekly pivot so I held back from buying back. It went up, double topped and then collapsed back into the trading range printing what appears to be an Upthrust After Distribution (UTAD) except that it did not fit the general rule in that when it moved up and out of the range it did not do it with increased volume and a relative narrowing of spread. Instead it double topped and then fell back into the range on wide price spread but relatively light volume (effort vs. result), not a "quality" move down. My guess is that this trading range has not been proven as distribution yet, especially since there is no sign of weakness yet and with strength (an uptrend) in the background, supply needs to prove itself. Overall its been a good trader. On 3 trades, 2 winners and one loser, I'm up $2,774 in the last 2 months with an average capital investment of $6063.
