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Daily Chart Observations...
Wow! Where did all you new people to the board come from?? It's like you all arrived here at once over the weekend...really cool!! What a great time to jump on!
Here are some chart observations I typically put out each morning (but not always if nothing really new has occurred) if you are interested. As I say to cover my butt...these are just my opinions (from years of professionally and not so professionally looking at charts). Like everyone here I am very much still learning as the markets are extremely humbling. Anything could happen... You will find I use but a few indicators and my charts are not lit up like a Christmas tree like you see on many trader's charts...I mainly use price action and some patterns etc...just depends what I am seeing and what may be best suited...
I am long from .10 just before we really got moving back in Dec and am in SIRC for the long haul and have not picked a definitive price target...playing it week by week.
Edit...one more thing I wanted to add...would not be surprised if we see a test of (brief fall back to) the 50 day EMA that we crossed up through yesterday at .99. Maybe today...maybe tomorrow...not sure....
Like I said last night...have been traveling. Of course SIRC had a great day today along with most other Green Stocks... Tomorrow morning will put up a daily chart with observations and also pull out fib projections for long term price targets.....
Have a good night!
Hi Gang...will be traveling next 16 hours...won't be commenting other than we may be back and filling tomorrow. Up against the 50 EMA so may back off a bit. News would change all that... Looking to fill in the 1.07 gap soon...Good night!
Daily Chart Observations...
Looks like we have a few news names on the board..welcome!
Friday was a big day...I believe a very big day for stopping the recent downward trend. We did NOT close the very last breakaway gap that was open on the chart as you will see down below.
I do believe a new upward trend is about to emerge. I will be watching closely in the next few days for a new upward breakaway gap to occur. Of course the catalyst we be news so we shall see.
Have a great day everyone!!
Just my opinions...anything could happen!
"How bout a sandwich I can eat while you enlighten us?"
BAHAHAHAHAHAHAHAHA.....Hilarious!!!!
Hi Charly81....of course I do get discouraged and I also get way too stoked...lol.. Wear my emotions on my sleeves ...afraid I’m not so cool and collected! However I have learned to observe my emotions (and those on this board).
Looking forward to rolling out today’s chart later this weekend ...it’s a beeeauty!!
Simply beeeeautiful!!!!
Daily Chart observations:
We are just one little mighty vessel out at sea in this storm that is occurring. Looking at other Greens some show clear signs of bottoming and some don't. One very positive sigh is just about every one of them gapped down yesterday. Are those exhaustion gaps that typically occur at the end of a trend??? We should know soon enough.
"The Numbers are right in front of us."
Below is part of a post from CHILL that he recently posted that I feel needs to be repeated in light of what is going on right now.
The thing is we have gotten caught up in this storm that is happening to many many tech stocks and especially Green stocks right now - the threat of inflation and interest rates rising. The question to me is when will SIRC become untethered from this storm and get back to the reality that SIRC is kicking ass and taking names.
I will post a chart in a bit but wanted to repost what CHILL said about revenue right here as I feel it is important:
--------------------
SIRC’s 2021 Q4 closes in a few days on 2/28/2021. That quarter is estimated to be ~$5M making their 2021 annual revenue run rate at ~$20M.
This is up from $9M in 2020 for a 125% YoY increase. They just closed Enerev acquisition adding ~$24M annually to their RR. That already projects SIRC to be $44M end of 2022 fiscal year, which is 2/28/2022.
Now add in the LOI’s we already know about (PLEMco $4M annual RR, Cornerstone Construction @ $10M annual RR). This puts SIRC at $20M + $24M + $10M + $4M = $58M revenue end of 2022 after those acquisitions gets closed. This DOES NOT take into account any organic growth in the next year nor does it take into account any other acquisitions to fall within the 2022 fiscal year.
I believe the RR can easily be projected at $100M end of fiscal year 2022.
Taking into consideration today’s outstanding share count of 138,674,132 … trading at a reasonable 10X RR multiple of $100M would be a $1B MC or $7.21 SP. There are plenty of solar companies trading at a 20-35X multiple right now. 20X would put SIRC at $14.42 SP.
And I would say these numbers listed are reasonable and fairly conservative.
How one labels the gap is inconsequential to me...breakaway gap, permanent gap, long-standing gap...a gap...whatever. Your statement from your first post about this was that virtually all gaps get filled in...especially after price has had a large run-up ...and what I’m saying is if you just study a lot of daily stock charts you will quickly see there are plenty of gaps that remain open forever... especially if they are created at the beginning of a major trend up. Make sense?
You can find these breakaway gaps all over the place but take a look at AMZN on Jan 30th 2015. Perfect example and that gap will NEVER get filled in....ever!
Great post curtyg62!!
Thanks for sharing your point of view...I'll bet it's a view shared by many here..
Hi AgeOfReason...I am afraid if you believe "in the concept that virtually all gaps get filled eventually - even if there was a massive runup (maybe even especially if such is the case) right after the gap." then you would be wrong. I am just stating a fact nothing more. Yes, most gaps are filled in but as I stated 'breakaway gaps' are not. The gap we have been discussing with SIRC between .75-.85 is no longer a breakaway gap. It did indeed get filled in today.
Carefully look at any chart with a stock that has had a big run up and you will see a breakaway gap. I guarantee you if you go back long enough for AMZN or AAPL or ANY stock that has an overall long term up trend you will find open gaps towards the beginning. When SIRC finally goes up for the long haul you can bet it will have a breakaway gap near the beginning of the new upward trend.
Btw...SIRC has another breakaway gap that has never been filled created on 2/1/21 between the close on 1/29 at .56 and the low of 2/1 at .60.
Cool! The 3 min bars/candles...very cool!
Hi creakyhottie... actually I think it does make sense. Money Flow of course looks at volume for each price bar depending if it's up or down. Where for the RSI...(the very short term 5 min RSI in this case), is based on price alone..ie, the length of the up or down individual price bars.
I'm not big on indicators but I do like to look at both of these indicators up next to each other from time to time and see how they are acting...
Oh don't you worry Oh Great One...I have been humbled by the markets long ago. Judging from your maturity level probably long before you were born.
I have NEVER said here something would definitely do one thing or the other (anything could happen) with one exception...long term SIRC is going higher...and that's JMO.
Ummm...the 2/3/21 breakaway gap at .75-.85 has not been filled yet. A breakaway gap can always be filled but then at that point they are not breakaway gaps. That is the problem...gaps can always get filled in but if it's a real breakaway gap they don't.
Yes...please do your own DD and make your own decisions. As I keep saying the markets can do anything.
Some Observations...
I have reviewed many green and solar companies on the charts last night and it is remarkable including Tesla (which most know here is heavily involved with solar) how they are ALL getting torched over the past few weeks...Big and small.
For me I ask myself do I believe in green renewable energy and will it hold a more and more dominant place in our future here in the states and around the world? Of course the answer is yes.
We may or may get torched here today. But my vision is long term and I don't care if they take SIRC down to zero short term. Do I think over the long term that a company that is starting to dramatically increase their revenues into the multiple millions have value especially with an OS is under 200 million?? Yes I do...
The 50 day EMA for SIRC is at $1.00...will see if it holds.
Electric vehicle stock sell-off called 'massive' buying opportunity
Mar. 04, 2021 8:34 AM ETGeneral Motors Company (GM)By: Clark Schultz, SA News Editor19 Comments
Wedbush Securities tackles the question on if the parabolic run in the share prices of electric vehicles stock is over.
Analyst Dan Ives: "Our answer is emphatically that the EV party and transformation is just beginning as this industry is on the cusp of a $5 trillion market opportunity over the next decade. With GM (NYSE:GM), Ford (NYSE:F), and now Volvo (OTCPK:VOLAF) all jumping into the deep end of the pool on EVs it speaks to the massive pent up demand globally around EV technology on the horizon."
Ives notes that EV penetration is only 3% today globally and says the firm forecasts it will go to 10% by 2025 with a green tidal wave on the horizon.
From a stock perspective, Wedbush thinks the sell-off in EV land creates a massive buying opportunity to own the Chinese EV players like Nio (NYSE:NIO), XPeng (NYSE:XPEV) and Li Auto (NASDAQ:LI), as well as the leader of the pack Tesla (NASDAQ:TSLA) heading into the golden age of EVs.
All bullish roads on EV stocks lead back to China.
"We believe China could see eye popping demand into 2021 and 2022 across the board with Tesla's flagship Giga 3 footprint a major competitive advantage, as domestic players such as BYD, Nio, Xpeng, and Li also are also firing on all cylinders and just scratching the surface of the overall TAM in China," note Ives and team.
ErnieDog...this is huge!!!!
The positive response from CEO Massey needs to be repeated except this time in ALL CAPS and put in bold!!
"I WOULD NOT MAKE THE ANNOUNCEMENT WITHOUT IT BEING TRUE. STAY TUNED FOR MORE NEWS."
Now that's a tale of two different posts!!
Supernova12 calling SIRC a POS and throwing in the towel...
Liberty777 adding to his position and ready to do more if needed...
Damn we play a fascinating game here as traders/investors.
I f*cking luv it!!!
For me I have given up on figuring out the reasons why the day to day price action does what it does. That's why I look at charts. Sometimes it's obvious because of news or earning out etc....but most of the time it's not obvious.
There is a lot of technical support around the $1.00 level. To me it looks clear we are building a base around that $1.00 level on which to push up off of and go higher. Just have to wait it out. We will be getting news out on the audit any day now...
I've never wanted to be so wrong in my life!! lol!!!
Go SIRC!!!
Daily Chart Observations...
My suspicion is we come under pressure today as we clearly found resistance yesterday at the 10 and 20 EMA and got pushed back down. Possible retest of the $1.00 area. If I am wrong and we break through yesterday's high that would be very bullish.
Just for some perspective since Dec 9th 2020 On WEDNESDAYS, SIRC has had 3 winning days, 6 losing days and 2 days unchanged.
Just to be clear I am very bullish long term...
My opinions...anything could happen
Well you are showing in your screen shot a 1 min chart of the cross so pretty meaningless... Normally you want to look at a daily chart for a Golden Cross and use the cross of the 50 and 200 day moving average.
No I don't put a lot of weight in it. You would do better and be more accurate simply using a 50 day EMA and wait for price to close above the 50 day EMA to forecast a coming rally in a market. The 50 crossing the 200 day moving average is a very lagging indicator. It will indicate a long term trend.
I know a lot of people like to follow the great and wonderful "Golden Cross" and is one of the reasons why a lot of people aren't successful trading stocks IMO.
Yes indeed...they closed the gap perfectly at 1.21 which was yesterday's close. So no breakaway gap today... We will just have to tough it out till we truly start heading north. We should be getting news this week to help us out...
Looks like for sure at some point today they are going to attempt to bring price down and try to fill the gap at 1.24. Will see if they can or not. We are up against some daily resistance of the 10 and 20 EMAs around 1.36.
This gap is occurring hopefully at the start of a whole new leg up. No this morning's gap is not considered filled at all...and may be a "breakaway gap". Just have to see how it plays out. But like I have been saying in my posts lately I am quite bullish...my bet is this is the start of a whole new leg up!! Just my opinion!
Looks like they are going to attempt to fill the gap...will see if they can do it or not...
Gorgeous gap up opening...broke out up through the 1.24 resistance after yesterday's inside day. Will be watching to see if they can keep this morning's gap open. This may turn into a new breakaway gap for our next leg higher into new highs. Expect news anytime...
Yes yes...my bad...just making sure you guys are paying attention lol...
I may be a bit on the quiet side today...certainly chart wise as power is out all over the place here with howling winds...
Expecting an exciting UP day today if we gap up and bust up through 1.24 resistance this morning...hopefully we
get news out...
Bullish...just my opinion!
Hi Televet...Brian Bohrer is the Founder/Owner of Cornerstone Construction of South Carolina that SIRC recently acquired. Brian is turning out to be quite and interesting guy and a real leader in the roofing/solar space.
2BTheDogman showed us this video of Brian leading a bunch of roofing guys in exercises and noticed one of the guys doing the exercises was Dave Massey himself!! Have a look:
That absolutely is Dave Massey in the video. Incredible!! I looked at another picture of Dave and both video and picture show him with a scar on his right cheek that fades a bit depending on how he turns his head... Wonderful to see the positive influence Brian Bohrer is bringing to SIRC!! I am sure he will be given a great position inside SIRC!!
Beautiful little inside day.
We closed up near the high and right under the resistance where the shelf is at 1.24. My bet will be that we will gap up through 1.24 on the open and it will probably be news driven. Seemed dull to most but to me this was a great set up day for bigger things to come in the near future!!
1.24 is key intra-day resistance. Flat shelf and 5 min 250 EMA both sitting there. We break up through 1.24 we will go right up to 1.32 to fill in the gap. Like like like what I am seeing right now!
Ha yes!!! I think ole Sammy boy needs to stick to "Red in the morning, sailors warning" and leave it at that.
Really like what I am seeing here this morning so far. I thought they might have the need to take it down below last week's low to the 50 EMA at .99 but now I'm not so sure. They have to fill that gap in at 1.30-1.32 for sure.
Right now we are also working on a daily inside day at the end of a trend...that's also good if it stays inside.
Will see...will see.
Interesting...There was a rare intra-day gap created last Friday at $1.30. It's like catnip to a cat...they will just have to scratch it (fill it in)...soon or sooner. That will bring us up above the 5 minute 250 EMA currently right now at 1.26.
Also newly created flat area at $1.24...that too now has to be taken out...
Bring it!!
Expecting a market reversal...
If we do go below last week's low at 1.04 that would be just fine. Daily 50 day EMA comes in at .99. If we do dip below last week's low and then reverse being that this is a Monday that would create a weekly hook reversal. This would be super bullish.
The 5 minute 250 EMA is coming in right now at 1.26. We get above that area for more than 2 bars and we are going up...
Bullish!!
My opinion...anything could happen...
Hello AgeOfReason...Breakaway Gaps!
First of all I want to say how much I've enjoyed reading everyone's posts here since after the close on Friday. A lot of passion... I too don't know exactly what has made our little company retrace quite as much as it has...but I do know that most of the other solar/green stocks I follow have also come way off as well. Just have a look at CSIQ or ENKS or FSLR or HYSR for example. There are plenty of others. There's NOT something terribly wrong all of the sudden with SIRC ...share prices in our industry just got a little bit out in front of themselves and needed to cool off a bit.
"What do you think of the idea that when a stock creates a price gap it almost always at some point fills in the gap?"
"You see, I am concerned that SIRC may fall all the way down to 75 cents/share. Early this month on a daily chart there is a price gap between $0.75/share and $0.85/share."
Gaps... There are different types of gaps...any yes you are right...most gaps get filled in but with one big exception...'Breakaway Gaps'. Look at ANY stock that has had a monster move up and you will almost always find a breakaway gap very near the beginning of the big move...that NEVER EVER get filled in. This includes currencies and commodities too. Sometimes you might have to look hard to find those gaps. Not all gaps completely clear the high/low range of the day before. Some may gap between where the stock closed the day before and the next day's low. However the gap you are referring to on 2/3/21 between .75-.85 did indeed clear the entire high/low range of the day before.
Notice the gap occurred breaking out above the .75 resistance area. Also notice it did this with the largest volume SIRC had ever had up until that time.
The nature of a breakout gap is that THEY ARE NEVER FILLED IN (or maybe years later for currencies and commoditites). Will they fill this gap in?? I sure as hell hope not. I will come out with another chart before Monday's open showing some intra-day clues that are signaling we are close to turning this around soon.
One of the most important lines of support/resistance on a stock chart is the 50 day EMA. The 50 day EMA on almost all stocks is one of the most respected lines by price you can find. This EMA line will be right around .98 come Monday morning for SIRC.
On the weekly chart we are also sitting on top of the 10 EMA. Very nice confluence between the Daily 50 EMA and the Weekly 10 EMA.
If I knew the answer to your question for sure of whether we will fill in the 2/3/21 gap...I would sell the house and back the truck up and push all my chips across the table...but I don't know for sure. I doubt it will but like I like to say....anything could happen.
Hope this helps!
Go $SIRC!!
The all important 50 day EMA comes in right now at .97...and $1.00 is a big psychological number...that would be the next obvious support.
It is what it is...not fun but determined to ride it out. Going to keep a sharp eye on the 5 min 250 ema.
Ha! Do I really sound like I am confident?
Love u man!!