Follow-Up To Some Bullish Solar Setups

Almost two weeks ago, I described some bullish setups on solar stocks. Here is a quick update on those setups and related trades.

First Solar (FSLR)
FSLR is a picture-perfect setup from 200-day moving average (DMA) support. I sold my call options into the rally that stalled a little on the shortened trading day on Friday. FSLR is still my favorite solar stock, so I will be scoping it for the next short-term entry point.

First Solar (FSLR) rallies successfully off 200DMA support.

First Solar (FSLR) rallies successfully off 200 DMA support.

SunPower Corporation (SPWR)
SPWR is still struggling to trigger a bullish setup. It continues to churn just below resistance at its 50DMA. SPWR is now a short if it manages to close below $22, the recent low. I am still looking for a bullish breakout above the 50DMA.

SunPower (SPWR) continues to struggle below its 50DMA resistance.

SunPower (SPWR) continues to struggle below its 50 DMA resistance.

Canadian Solar (CSIQ)
CSIQ is a picture-perfect setup at 50DMA support. I never made a trade on this one. CSIQ still has sort-term upside potential to at least 24. A new post-earnings high would be very bullish, but resistance looms overhead from the 200DMA.

Canadian Solar (CSIQ) maintains a bullish bounce off 50DMA support.

Solar City (SCTY)
SCTY may have finally bottomed for now. The rally off the recent bottom has put about 20% back on the stock. I sold my call options into the rally. The next threshold for SCTY is a move into the post-earnings gap down. Overhead resistance looms large as the 50DMA quickly trends downward.

Solar City (SCTY) makes a strong bounce off its recent bottom.

Hanwha Q CELLS Co. (HQCL)
HQCL has been unable to make more progress since a strong bounce off 50DMA support. There is no new bullish trade here until the stock can print a breakout and close above $20.

Hanwha Q CELLS Co. (HQCL) is still coiling for a potential breakout.