Breakouts, breakouts everywhere!! While it is great to see so many potential breakouts (and make some money off them, of course!), one should also start feeling cautious as the sheer volume of breakouts might serve as a potential contrarian indicator. With this word of caution, let me present a couple of potential solar stocks poised to breakout.
YGE has been consolidating for the last three days, forming a nice bullish flag on decreasing volume. Look out for a breakout above 18.50. An obvious place for the stop loss point would be just below the flag.
CSIQ has had a monster run and is still looking good. The chart serves as a good example of why trend is your friend and must be respected. The divergence in MACD might indicate a fall coming in the near future but that shouldn't stop one from playing the stock as long as the trend is in place. Look out for a breakout above 34! A stop around 30.50 should serve the purpose as it coincides with both the trendline and MA(9), making it a strong area of support.
As always, follow the volume! Good Luck trading today!