Just a couple weeks ago we talked about how to find good trades from the top down. We looked a which sectors were hot and then drilled down to find the best candidates in that sector. You can check out the article here.
That simple process led us to a group of stocks and potential trades that had been underpriced and have been on a tear ever since. Clean energy, renewable energy, solar power, batteries have all been red hot lately. As gas prices climb the demand is just going through the roof. Here is one we have talked about many times:
TAN is an ETF that has been on a steady climb for weeks. I has been as high as almost double where it is now. That gives it plenty of room to keep climbing.
We also looked at a stock that has also seen strength from this trend. FSLR has also show some upside momentum. Take a look at the chart:
Both are getting support from their 10 day moving average and have proven in the past they aren’t afraid of heights. Keep these on your watch list.
If you are looking for other ways to spot great breakout trades, check out Alan Knuckman’s Bullseye Options program. It is the ideal way to have great trades virtually handed to you. Click here for details.
Keep learning and trade wisely,
Market Wealth Daily