As I am writing this solar stocks are gaining a lot of momentum, fslr and spwr are up more than $15.00 per share hitting new highs. At the same time tsl looks like it is going nowhere. I think there is no reason to worry and very soon tsl will catch up with the rest of the group. The long term chart above looks bullish building a 7 month base after an initial 400% move since the ipo.
Short term chart is building a tight flag formation between roughly $57-$62 and it is breaking out of the consolidation as I am writing. Sweet!!!
The heavy resistance on the stock lies between $64.5 and $65.5. Watch how many times the stock has retreated from that area (highlighted in yellow). Once it penetrates $65.5, I think it will be clear sailing.
6-8 days consolidations in the past like we have now have produced 66% and 40% gains so we need to keep in mind the potential of a break out. Needless to say I own the stock.
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