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$KWT $TAN – Solar ETFs Soar On Tax Credit Extension – $SCTY $FSLR $RUN $SPWR $SUNE $ASTI $RGSE
http://seekingalpha.com/article/3766356-solar-etfs-soar-on-tax-credit-extension
Congress’ vote for an environmental tax credit extension on Wednesday helped the solar sector to register healthy gains thereafter. After getting a boost from historical Paris deal, credit extension news set the tone for the solar sector, which is on a track to finish the week on a positive note. ETFs having significant exposure to the solar energy sector are also poised to gain from this scenario.
Extension in Focus
The legislation approves an additional five years of an investment tax credit (ITC) which will allow solar power companies to keep claiming federal ITC at 30% of the price of solar energy systems which was set earlier to expire at the end of 2016. However, the credit will be slashed gradually to 10% in 2022. Any solar project that starts before the end of 2021 will get the benefit.
Moreover, the solar sector is also poised to be benefited from the production tax credit (PTC) extension. The PTC pays 2.3 cents per kilowatt-hour of electricity generated and technically expired at 2014 end due to Congressional gridlock. It has been decided that the PTC will be extended through 2020 but will be gradually reduced over the next four years before being completely phased out.
The environmental tax credit extension came as part of the $1.15 trillion federal spending bill which prevented a government shutdown and lifted the 40-year-old ban on exporting American crude oil. The extension initiative along with the historic Paris meet that struck a deal to limit greenhouse gas emissions and shift toward clean energy indicated that investments in clean energy sectors may prove fruitful in the near future.
What’s Store for Solar?
It has been clearly indicated that most of the nations want the world to be free from pollution and be a better place to live in. This signals that importance and demand of clean energy, including solar, over fossil fuels will increase with time. The Zacks Industry Rank for Solar is #16 out of 257, also confirming the bright prospect of this sector.
Meanwhile, recent trends also showed growing demand of solar in the U.S. The Solar Energy Industries Association (SEIA) forecast that 2015 may prove to be a record-breaking year. Installation of 1,361 megawatt DC in the third quarter helped the market to increase installations to 4.1 gigawatt (GW) DC through the first nine months of 2015. Meanwhile, SEIA said: “the extension is likely to add another 140,000 jobs or more.”
2 Solar ETFs to Watch
Like solar stocks, solar ETFs also got a massive boost from these developments throughout the week. In this scenario, we have highlighted two solar ETFs that are likely to remain on investors’ radar in the coming months.
Guggenheim Solar ETF (NYSEARCA:TAN)
This ETF follows the MAC Global Solar Energy Index, holding 31 stocks in the basket. American firms dominate the fund’s portfolio with nearly 50.9% share, followed by Hong Kong (19.8%) and China (17.5%). The product has amassed $290.9 million in its asset base and trades in moderate volume of around 216,000 shares a day. It charges investors 70 bps in fees per year. The fund has returned 16.8% over the past five trading days.
Market Vectors Solar Energy ETF (NYSEARCA:KWT)
This fund manages $18.8 million in its asset base and provides global exposure to 28 solar stocks by tracking the Market Vectors Global Solar Energy Index. In terms of country exposure, the U.S. and China account for the top two countries with 27.5% and 32.9% allocation, respectively, closely followed by Taiwan (20.5%). The product has an expense ratio of 0.65% and sees paltry volume of about 2,000 shares a day. The ETF has returned 15.6% over the past five trading days.
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Hi everybody - hope everyone has been having a great Holiday Season - looking forward to a great 2016 -
setting up for a nice bounce play -
$XGTI Chart from yesterday – a doji formed today – a bullish candle when formed following multiple 5 red candles – Bullish harami reversal pattern formed on the 12th – EMA 4 @ 0.26 is the key level to break – as this chart shows it’s been resistance during the downtrend – a close above should be the bull signal & would put EMA 8 @ 0.31 on deck – Fast STO is pinched & at oversold levels – RSI is riding the 30 oversold line – 1st green volume bar in 5 days –
$XGTI Chart from yesterday – a doji formed today – a bullish candle when formed following multiple 5 red candles – Bullish harami reversal pattern formed on the 12th – EMA 4 @ 0.26 is the key level to break – as this chart shows it’s been resistance during the downtrend – a close above should be the bull signal & would put EMA 8 @ 0.31 on deck – Fast STO is pinched & at oversold levels – RSI is riding the 30 oversold line – 1st green volume bar in 5 days –
$PTN Chart from yesterday - bouncing today & forming Bullish One White Soldier reversal pattern – EMA 4 @ 0.699 is the 1st level to break – a close above EMA 8 @ 0.72 puts the middle Bollinger Band @ 0.770 on deck – big volume spike yesterday – Fast STO bull cross & above oversold levels – RSI bounced off the 30 oversold line – big volume spike yesterday – looking like “The Load” today – the MACD Line has leveled –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2111
BULLISH ONE WHITE SOLDIER
Definition
This pattern appears in a downtrend and consists of a black candlestick and a white candlestick in which the white candlestick opens above the preceding day’s close and closes above its open. The pattern looks similar to the Bullish Harami pattern. The only difference is that the second day closes higher, which stops the engulfing of the white body by the preceding black body.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The white body that is formed on the second day opens higher than the first day’s close and closes higher than the first day’s open.
$PTN Chart from yesterday - bouncing today & forming Bullish One White Soldier reversal pattern – EMA 4 @ 0.699 is the 1st level to break – a close above EMA 8 @ 0.72 puts the middle Bollinger Band @ 0.770 on deck – big volume spike yesterday – Fast STO bull cross & above oversold levels – RSI bounced off the 30 oversold line – big volume spike yesterday – looking like “The Load” today – the MACD Line has leveled –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2111
BULLISH ONE WHITE SOLDIER
Definition
This pattern appears in a downtrend and consists of a black candlestick and a white candlestick in which the white candlestick opens above the preceding day’s close and closes above its open. The pattern looks similar to the Bullish Harami pattern. The only difference is that the second day closes higher, which stops the engulfing of the white body by the preceding black body.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The white body that is formed on the second day opens higher than the first day’s close and closes higher than the first day’s open.
$ICLD Chart from yesterday – bouncing today & currently forming Bullish One White Soldier reversal pattern – EMA 4 @ 1.32 is the 1st level to break – a close above EMA 8 @ 1.39 puts the middle Bollinger Band @ 1.55 on deck – monster volume spike – Fast STO bull cross & above oversold levels – 50 to 80 = the bull zone on Fast STO – RSI is above the 30 oversold line – the MACD Line is hooking up –
$ICLD Chart from yesterday – bouncing today & currently forming Bullish One White Soldier reversal pattern – EMA 4 @ 1.32 is the 1st level to break – a close above EMA 8 @ 1.39 puts the middle Bollinger Band @ 1.55 on deck – monster volume spike – Fast STO bull cross & above oversold levels – 50 to 80 = the bull zone on Fast STO – RSI is above the 30 oversold line – the MACD Line is hooking up –
$LPTN Chart from yesterday – Bullish Engulfing reversal pattern is currently forming – the middle Bollinger Band @ 0.20 is the key level to close above – trading above EMA ‘s 4 & 8 – MACD is hooking up – keep an eye out for a bull cross – Fast STO bull cross & above oversold levels – RSI is in the 50 to 70 bull zone – $LPTN has been trading in a sideway’s channel – the middle Bollinger Band is the middle of the channel – the upper BB @ 0.23 is the top of the channel & the sell zone until resistance breaks – the lower BB @ 0.16 is the bottom of the channel –
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$LPTN Chart from yesterday – Bullish Engulfing reversal pattern is currently forming – the middle Bollinger Band @ 0.20 is the key level to close above – trading above EMA ‘s 4 & 8 – MACD is hooking up – keep an eye out for a bull cross – Fast STO bull cross & above oversold levels – RSI is in the 50 to 70 bull zone – $LPTN has been trading in a sideway’s channel – the middle Bollinger Band is the middle of the channel – the upper BB @ 0.23 is the top of the channel & the sell zone until resistance breaks – the lower BB @ 0.16 is the bottom of the channel –
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$SIEN Chart from yesterday – nice follow through today after confirming the Bullish Three Gap Downs reversal pattern yesterday – EMA 8 @ 3.55 is the key level to close above today – the middle Bollinger Band @ 4.02 is the key level to break – RSI & Fast STO are above oversold levels – light volume – RSI & Fast STO are above oversold levels – MACd is trending up –
$SIEN Chart from yesterday – nice follow through today after confirming the Bullish Three Gap Downs reversal pattern yesterday – EMA 8 @ 3.55 is the key level to close above today – the middle Bollinger Band @ 4.02 is the key level to break – RSI & Fast STO are above oversold levels – light volume – RSI & Fast STO are above oversold levels – MACd is trending up –
the middle Bollinger Band is the key level for $MCIG to hold -
checkout the Aug. low on the weekly chart for $ACI - it was @ 1.00 - that is the key level to hold & form a reversal pattern - if 1.00 turns into resistance it will = more downside risk -
$CAPV $EGYF $ADCF - OTC plays for today - watching thinly traded $SBFM -
$UNXL Chart from yesterday – big gap up open today – currently forming Bullish Kicking reversal pattern – the middle Bollinger Band @ 1.08 is the key level to close above & turn into support – the upper Bollinger band @ 1.32 is the key level to break – there is now a gap(space on the chart) between high of day yesterday & low of day today – big volume spike – MACD bullish crossover – RSI is in the 50 to 70 bull zone – Fast STO is in the above 80 overbought / power zone –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2110
Definition
This pattern consists firstly of a black Marubozu and then a white Marubozu. After the black Marubozu, the market opens above the prior session’s opening, forming a gap between the two candlesticks.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. On the first day a black Marubozu (or a black candlestick) is observed.
3. Then we see a white Marubozu (or a white candlestick) on the second day.
4. The second day opens higher with a body gap.
$UNXL Chart from yesterday – big gap up open today – currently forming Bullish Kicking reversal pattern – the middle Bollinger Band @ 1.08 is the key level to close above & turn into support – the upper Bollinger band @ 1.32 is the key level to break – there is now a gap(space on the chart) between high of day yesterday & low of day today – big volume spike – MACD bullish crossover – RSI is in the 50 to 70 bull zone – Fast STO is in the above 80 overbought / power zone –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2110
Definition
This pattern consists firstly of a black Marubozu and then a white Marubozu. After the black Marubozu, the market opens above the prior session’s opening, forming a gap between the two candlesticks.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. On the first day a black Marubozu (or a black candlestick) is observed.
3. Then we see a white Marubozu (or a white candlestick) on the second day.
4. The second day opens higher with a body gap.
$NUGT Chart from yesterday – the BULLISH HARAMI reversal pattern that formed yesterday was confirmed today – EMA 8 @ 26.04 is the key level to break – a close above puts the middle Bollinger Band @ 31.39 on deck – Fast STO is now above the 20 oversold line – keep an eye out for RSI above 50 – good recent volume – MACD is pinched – keep an eye out for a bull cross –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2102
Definition
This pattern consists of a black body and a small white body that is completely inside the range of the black body. If an outline is drawn for the pattern, it looks like a pregnant woman. This is not a coincidence. “Harami” is an old Japanese word for “pregnant”. The black candlestick is “the mother” and the small candlestick is “the baby”.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The white body that is formed on the second day is completely engulfed by the body of the first day.
$NUGT Chart from yesterday – the BULLISH HARAMI reversal pattern that formed yesterday was confirmed today – EMA 8 @ 26.04 is the key level to break – a close above puts the middle Bollinger Band @ 31.39 on deck – Fast STO is now above the 20 oversold line – keep an eye out for RSI above 50 – good recent volume – MACD is pinched – keep an eye out for a bull cross –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2102
Definition
This pattern consists of a black body and a small white body that is completely inside the range of the black body. If an outline is drawn for the pattern, it looks like a pregnant woman. This is not a coincidence. “Harami” is an old Japanese word for “pregnant”. The black candlestick is “the mother” and the small candlestick is “the baby”.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The white body that is formed on the second day is completely engulfed by the body of the first day.
very sweet move for $CAPV today - nice load opportunity on this dip -
$EGYF - looking very sweet - nice move this morning - thanks for all the great DD - very much appreciated -
no worries - I love those Bollinger Bands! -
$CHIT Chart from yesterday - nice bounce at the open – there is now a gap between high of day yesterday & low of day today – EMA’s 4 & 8 are the key levels to break – a close above EMA 8 @ 0.0008 puts the middle Bollinger Band @ 0.0012 on deck – a new up trend will not begin until the middle BB turns into support – a Falling Wedge pattern has formed – a close above the red descending resistance line would be bullish – RSI & Fast STO are above oversold levels – volume spoke today after almost no trading yesterday – the MACD Line is trending up –
$CHIT Chart from yesterday – nice bounce at the open – there is now a gap between high of day yesterday & low of day today – EMA’s 4 & 8 are the key levels to break – a close above EMA 8 @ 0.0008 puts the middle Bollinger Band @ 0.0012 on deck – a new up trend will not begin until the middle BB turns into support – a Falling Wedge pattern has formed – a close above the red descending resistance line would be bullish – RSI & Fast STO are above oversold levels – volume spoke today after almost no trading yesterday – the MACD Line is trending up –
$VIPS Chart from yesterday – the BULLISH HOMING PIGEON reversal pattern that formed yesterday was confirmed today -closed above EMA 4 @ 14.26 – EMA 8 @ 15.75 is the next resistance level to break – big gap between low of day on the 12th & high of day on the 13th – Fast STO bull cross and above the 20 oversold line – RSI above the 30 oversold line – Big Volume – the MACD Line is starting to hook –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2108
Definition
This pattern is a small black body contained by a prior relatively long black body. It resembles the Harami pattern, except that both bodies are black.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. On the second day, we again see a black body which is completely engulfed by the body of the first day.
$VIPS Chart from yesterday – the BULLISH HOMING PIGEON reversal pattern that formed yesterday was confirmed today -closed above EMA 4 @ 14.26 – EMA 8 @ 15.75 is the next resistance level to break – big gap between low of day on the 12th & high of day on the 13th – Fast STO bull cross and above the 20 oversold line – RSI above the 30 oversold line – Big Volume – the MACD Line is starting to hook –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2108
Definition
This pattern is a small black body contained by a prior relatively long black body. It resembles the Harami pattern, except that both bodies are black.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. On the second day, we again see a black body which is completely engulfed by the body of the first day.
$ZINC trying to find a bottom -
$ARNA Chart from yesterday – BULLISH HARAMI CROSS cross that formed yesterday was confirmed today – strong move above EMA’s 4 & 8 – the middle Bollinger Band @ 2.00 is the key level to break – when the middle BB turns into support a new up trend can begin – good volume – MACD is pinched – keep an eye out for a bull cross – Fast STO is in the 50 to 80 bull zone – RSI is hitting the 50 to 70 bull zone –
http://www.candlesticker.com/Pattern.aspx?lang=en&Pattern=2103
Definition
This is a major bullish reversal pattern, which is even more significant than a regular Bullish Harami. The outline again looks like a pregnant woman, as with the Bullish Harami Pattern. However, now the baby is a Doji. Basically, the pattern is characterized by a black body followed by a Doji that is completely inside the range of the prior black body.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The Doji that is formed on the second day is completely engulfed by the body of the first day.