Tradeplay: Real Goods Solar

Solar stocks this past summer were hot but since then have largely fallen by the wayside. With patience and little bit of industry knowledge, an excellent chart pattern is a good indication that bigger upside than downside is now present.

Note from editors: This article discusses a penny stock. Penny stocks are easily manipulated; please do your own due diligence.

Real Goods Solar  (RGSE) stock was $2.22 on 8/19, from there it fell as low as $1.40, spiking on 9/30 to $1.72. Since then it has dragged down to a low on 11/3 of $.76. Currently the stock is having a good day bringing it back up over 85 cents.

MOJO Swing Trading is building a position in this stock at these levels. The Solar group is stabilizing and firming up and this little gem on a percentage base move can really get some legs. Target at $1.00 is a 25% return from here. 

 

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