In today’s report we highlight the following actionable solar energy names: First Solar (FSLR), SolarEdge Technologies (SEDG), GCL-Poly Energy (3800-HK), Meyer Burger Technology AG (MBTN-CH), Enphase Energy (ENPH), JinkoSolar Sponsored ADR (JKS), TerraForm Power (TERP), Beijing Enterprises Clean Energy Group (1250-HK), GCL New Energy (451-HK), and Viatron Technologies (141000-KR).
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In today’s report we highlight the following actionable solar energy names: First Solar (FSLR), SolarEdge Technologies (SEDG), GCL-Poly Energy (3800-HK), Meyer Burger Technology AG (MBTN-CH), Enphase Energy (ENPH), JinkoSolar Sponsored ADR (JKS), TerraForm Power (TERP), Beijing Enterprises Clean Energy Group (1250-HK), GCL New Energy (451-HK), and Viatron Technologies (141000-KR).
The S&P 500 continues to hover below critical resistance at its 200-day moving average while market participants remain in a wait-and-see mode for new developments on U.S.-China trade and details on the latest border security proposal. At the same time, breadth improvements have extended to our Manufacturing Sector – a welcomed sight given its cyclical nature. We are Upgrading Manufacturing to market weight from underweight. Our cap-weighted Manufacturing Sector has steadily improved in our RSR ranks due in large part to strength in Aerospace & Defense Groups.In today’s report we highlight attractive Groups within Manufacturing and Technology..
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The S&P 500 continues to hover below critical resistance at its 200-day moving average while market participants remain in a wait-and-see mode for new developments on U.S.-China trade and details on the latest border security proposal. At the same time, breadth improvements have extended to our Manufacturing Sector – a welcomed sight given its cyclical nature. We are Upgrading Manufacturing to market weight from underweight. Our cap-weighted Manufacturing Sector has steadily improved in our RSR ranks due in large part to strength in Aerospace & Defense Groups.In today’s report we highlight attractive Groups within Manufacturing and Technology..
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Fanuc Corp (6954 JP) shows increasing signs of a basing process and opportunities on weakness.
Macro retracements display clear synergy with the low at 15,570, suggesting this is a key low.
Use weakness back toward base line support to buy for a medium term rise to press on outlined resistance targets.
Risk lies with the signs of rally fatigue in the near term tactical cycle as the daily RSI fails to confirm recent highs that are knocking on pivotal resistance at 19,000 that acts as the immediate make or break level.
Pivot levels, action points and targets are outlined.
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Fanuc Corp (6954 JP) shows increasing signs of a basing process and opportunities on weakness.
Macro retracements display clear synergy with the low at 15,570, suggesting this is a key low.
Use weakness back toward base line support to buy for a medium term rise to press on outlined resistance targets.
Risk lies with the signs of rally fatigue in the near term tactical cycle as the daily RSI fails to confirm recent highs that are knocking on pivotal resistance at 19,000 that acts as the immediate make or break level.
Pivot levels, action points and targets are outlined.
Daily cycle indicators display a topside cap for Suruga Bank Ltd (8358 JP) and turn barrier to press for new lows with ideal downside projection the focus to align with RSI and MACD targeted supports.
The rise from December 2018 is labeled as corrective and biased for a new low. Price cap will act as resistance for those who favor the short side here.
Previous supports at 603 and 590 have been broken and are now upside hurdles to contend with and use as inflection points.
Oversold cycle readings are taking shape in the form of daily bull divergence from price as the weekly cycle attempts to find a foot hold in coming months.
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Daily cycle indicators display a topside cap for Suruga Bank Ltd (8358 JP) and turn barrier to press for new lows with ideal downside projection the focus to align with RSI and MACD targeted supports.
The rise from December 2018 is labeled as corrective and biased for a new low. Price cap will act as resistance for those who favor the short side here.
Previous supports at 603 and 590 have been broken and are now upside hurdles to contend with and use as inflection points.
Oversold cycle readings are taking shape in the form of daily bull divergence from price as the weekly cycle attempts to find a foot hold in coming months.
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Korea Circuit (007810 KS) exhibits the ability to make headway through triple resistance barriers on the back of higher degree divergence that has been forming since late 2017.
Overhead resistance barriers, represented by old floor support levels, once cleared, would open up the intermediate up cycle for Korea Circuit. A failure to clear these important levels would induce a fresh test of recent basing lows.
RSI pocket support helps fine tune a pullback level to take a long bet.
Risk to reward is attractive on a dip near support for a 6:1 ratio (reward to risk).
There are some major hurdles on the way up represented by old floor supports.
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Silverlake Axis (SILV SP) triggered a buy above the triangle formation break at 0.43 and the daily MACD barrier outlined in our recent update Silver Lake Bottom Targets . The pick up in buy volumes were noted as an underlying positive as rally energy started to take shape.
Buy volumes have picked up nicely after noted accumulation in late 2018.
The failure to reach for a final low has set in motion the rally toward medium term pivot resistance and more importantly a test on the higher end of the intermediate range.
Near term, this rally is looking extended. We like buying weakness for a press through pocket resistance. Silverlake rallies tend to be explosive.
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Silverlake Axis (SILV SP) triggered a buy above the triangle formation break at 0.43 and the daily MACD barrier outlined in our recent update Silver Lake Bottom Targets . The pick up in buy volumes were noted as an underlying positive as rally energy started to take shape.
Buy volumes have picked up nicely after noted accumulation in late 2018.
The failure to reach for a final low has set in motion the rally toward medium term pivot resistance and more importantly a test on the higher end of the intermediate range.
Near term, this rally is looking extended. We like buying weakness for a press through pocket resistance. Silverlake rallies tend to be explosive.
Amorepacific Corp (090430 KS) break below 248k triple low support induced a hard cycle lower that needs more time to base before mending the technical damage.
Our last update Working Back into Amorepacific Long outlined a buy near 255k support with a stop at 248k. That break of 248k set in motion a bigger down cycle.
Recent rise has been on deteriorating volumes which aligns with current bounce attempts falling into the corrective camp with the major trend still remains down.
In this webcast we outline Ideal downside projections and support that would initiate a fresh basing cycle ahead of a new up cycle. More time is needed.
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Smartkarma supports the world’s leading investors with high-quality, timely, and actionable Insights. Subscribe now for unlimited access, or request a demo below.
Silverlake Axis (SILV SP) triggered a buy above the triangle formation break at 0.43 and the daily MACD barrier outlined in our recent update Silver Lake Bottom Targets . The pick up in buy volumes were noted as an underlying positive as rally energy started to take shape.
Buy volumes have picked up nicely after noted accumulation in late 2018.
The failure to reach for a final low has set in motion the rally toward medium term pivot resistance and more importantly a test on the higher end of the intermediate range.
Near term, this rally is looking extended. We like buying weakness for a press through pocket resistance. Silverlake rallies tend to be explosive.
Amorepacific Corp (090430 KS) break below 248k triple low support induced a hard cycle lower that needs more time to base before mending the technical damage.
Our last update Working Back into Amorepacific Long outlined a buy near 255k support with a stop at 248k. That break of 248k set in motion a bigger down cycle.
Recent rise has been on deteriorating volumes which aligns with current bounce attempts falling into the corrective camp with the major trend still remains down.
In this webcast we outline Ideal downside projections and support that would initiate a fresh basing cycle ahead of a new up cycle. More time is needed.
The S&P 500 remains just short of formidable resistance at its 200-day MA. Yet, there are signs of continued breadth improvement. Technology in particular continues to top our Sector RSR rankings, fueled by strengthening price and RS action for semiconductors, semi-suppliers, and numerous Software groups. Last week we upgraded our weighting for Technology and its strength continues to broaden out. In this week’s report we highlight a number of actionable Technology stocks across our various Groups.
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