GMOTruths

SPWR — Cup Forming

Lång
NASDAQ:SPWR   SunPower Corporation
Long on good energy stocks like Sun Power.

Buy at 25.50,

Long on housing-related stocks, and that includes solar for first time home buyers and Gen X 'ers.

Patterns.
* quadruple bottom
* cup and handle bottom
* Narrowing and consolidation

Price met resistance at 27.50 and came back down. Expect it to meet this level (27.40) again soon. If it goes through that, it could make a breakout with the nearest upward resistance around 28.90.

Buy now, buy more in the orange zone. As always, watch the price of oil. Energy sector is correlated. When oil goes up, energy stocks go up.

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