SolarPVInvestor Forums

It does not matter...it is naked shorting from left hand to right hand...is what is going on.

High volume.

Starting to cover, or still a chance of testing the 52 week lows?

http://stockcharts.com/school/data/media…merhanging2.gif

http://stockcharts.com/h-sc/ui?s=Sol


I know many don't utilize TA analysis but it can be a very useful tool especially if fundamentals back up a chart pattern. For those who are curious here are hard past data facts related to past TA on SOL...

- short flushed it through 100DMA. Win for them
- shorts flushed it through 200DMA win for them

The last bottom of a major downtrend was at end of november. It was formed by similar reversal hammer and marked the beginning of a 150% + 6 week move to upside. Keep in mind this move was based strictly on stabilization of prices, no major news.
In current downtrend this is first hammer followed directly by white candlestick. Possibly could mark bottom and start of huge reversal. Unlike last move this upcoming possible move has some major news and fundamental strength behind it... To name a couple
- beat on earnings, raised on guidance
- profitability within reach just based on stable ASP
- pretty significant move in spot prices to upside
- demand in japan just getting revised up to record setting yearly installations
Analysts are going to have to revise up install rates because of japan alone

Personally I know many of traders that trade purely on TA and I can tell you for a fact that this technical indicator will draw attention and will be picked up by there stock scans. Good luck to all