Uptrends are trying to emerge in the solar space. Trying, being the key word. After a sharp rally in December, most solar plays are holding their gains well, which is a positive until it's not. Keep an eye on the group moving forward.
The leading solar stock, First Solar (FSLR) has been on the 52 week highs list and the trend is now higher on all time frames. That said there is still plenty of work to be done as the stock remains below 2014 lows
SunPower (SPWR) has just started to clear a 2 year downtrend. Moving Averages are coiled and one more push higher starts a fresh uptrend.
HQCL was a massive leader in December's rally and it's moving averages are all moving higher now as price tests an old pivot.
Two plays with massive potential are JASO and JKS. They haven't broken out yet, but moving averages are tightly coiled together and starting to move higher. There is real potential fresh uptrends will likely emerge.
It's not like there are a ton of groups that have much promise. This is one and money may flow here just because There Is No Alternative (TINA).
Disclosure: I have no positions in the names mentioned in this article at the time of publication. I may establish positions in the next 72 hours.
Trade 'em well
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