Thursday, July 31, 2008

30jul08 - solar stock (TAN)


Solar stocks have started to come alive again, prompting us to also buy Claymore Global Solar Energy (TAN) yesterday. Leading stocks within the solar energy sector have started breaking out above recent bases of consolidation, which caused TAN to break out above its intermediate-term downtrend line on the daily chart. This occurred after TAN also formed a "double bottom" area of support. The daily chart of TAN is shown below:


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