BUZ INVETORS Canadian Solar Stock I have the inclination to believe that the solar stocks are starting to heat up, and this is why I am focusing on Canadian Solar Inc. (NASDAQ:CSIQ) stock because there are indications on the CSIQ stock chart that are suggesting that it is attempting to put in a bottom and stage a rally. The same can be said of Canadian Solar stock’s peers, which is suggesting that this move towards higher stock prices is a sector-wide phenomenon.
Finding bottoming patterns in this stage of the equity bull market is not an easy task, but one thing is for certain: The best time to acquire an investment is when it is transitioning from a bear market into a bull market. Canadian Solar stock is currently painting a trend reversal pattern on its stock chart, suggesting that such a transition is about to take place.
The following Canadian Solar stock chart illustrates the same chart but with an indicator that supports the notion of a break above the neckline.
This CSIQ stock chart is focusing on the golden cross that was generated in June 2017. A golden cross is a bullish signal that is used by the investment community to indicate that a bull market is in development. This signal is generated when the blue 50-day moving average crosses above the red 200-day moving average. This signal captures the point in time where the shorter-term trend begins to accelerate versus the long-term trend.
The following stock chart illustrates this other influential indicator that is suggesting that Canadian Solar stock is now set to appreciate.
This CSIQ stock chart illustrates a very influential indicator known as the moving average convergence/divergence indicator, simply known as “MACD.”
MACD is a simple indicator that is used to distinguish whether the dominating driving force behind a stock is bullish or bearish momentum. The stock chart clearly shows that this indicator is worth paying attention to.
In July 2012, a bullish cross was generated, indicating that the stock was set to appreciate because it was geared higher by bullish momentum. This investment appreciated to the tune of 837.84% before a bearish cross indicated that the advancement in price was complete and a correction was set to ensue. This bearish MACD cross was in effect for a little over two years, where Canadian Solar lost 35.55% value over that time.
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