NEW BULLISH Plays
Solar ETF - TAN - close: 41.54 change: +0.45
Stop Loss: 39.75
Current Gain/Loss: unopened
Entry on January -- at $--.--
Listed on January 14, 2014
Time Frame: 6 to 8 weeks
Average Daily Volume = 442 thousand
New Positions: Yes, see below
Why We Like It:
TAN is the Guggenheim Investments Solar Energy ETF. This fund tracks the MAC Global Solar Energy Index. The TAN has a couple of dozen components with SCTY, CSIQ, YGE, and FSLR as four of the top five holdings. Overall the industry has been trending higher and is up significantly for the year already. Today saw shares of TAN testing resistance near $42 and its 2013 highs.
We are suggesting a trigger to open small bullish positions at $42.25. If triggered our multi-week target is $48.50. This could turn into a multi-month trade so we'll have to try and be patient.
FYI: A rise past $42.00 would create a new triple-top bullish breakout buy signal on TAN's point & figure chart.
Trigger @ 42.25
Suggested Position: buy TAN @ (trigger)
- (or for more adventurous traders, try this option) -
Buy the April $45 call (TAN1419D45) current ask $2.20