Phew, it's not for me! What looked a bit like flattening out the daily lows during the past week or two got blown to smithereens today. Volume was high today, as well. The psychological 200 DMA has also been dusted. I'm sticking to 8-ish being an important support level, and except for some quick-hit put selling, I'm not an outright buyer until it bounces maybe a couple times with good volume wherever it lands (8 or even down to 7?).
Yepper, small resistance/support range around 7.70-8.00, and like you said, probably want to make sure it doesn't drop right through it, after that the next stop is in the 5.00 range.
that was a really good earnings call. if we can get back to mid 9's tomorrow the monthly chart won't look so bad and I'd stay bullish longer term. possible analyst upgrades incoming
Down to 8.30 on good volume, supply exhaustion should be coming soon. Shares (M): 142.53 Shares Float (M): 62.73
Good volume last couple days for sure. I'm doubting a breakout here, but cheering for anybody who has $ in this. My preferred scenario would be some multi-month consolidation at these levels to see it holds any feints back to 8, also giving opportunity to sell some puts or slowly accumulate.
SPWR hanging tough in there. I would like to see it break the On-Balance-Volume downtrend, and then perhaps on subsequent pullbacks I might sell some fairly close-to-the-money super short-term Puts when it dips on the slow stochastic. I figure maybe a month to play out to see for sure.
