AEIS and AMAT Technical Analysis Video
This week we will be looking at two solar companies, AMAT and AEIS, as we cover up and coming renewable technology. I always think it’s funny that they call it renewable as it not like you can recharge the sun or anything again. Who know’s how we get some of the names we do. If it was me, I think I would call it natural energy.
this market has been kinda sideways for the past few months(summer slump). The market made an important new low back in July and I believe that new low at 63.66 is a turning point for what was an uptrend. We are now seeing a basing period and I think it may roll over. What it comes down to is price is going to give the high at $80 and supply zone at 79.36 up to 86.25 a retest and as it does so that will be the final decision point as to if bulls will pull out. I think that that for this coming week we will see price move up but not sure how price will act around $82. I think it could fail there and start a new downtrend overall. However, only time will tell and that is a long prediction to have right now. Overall, I see this market north this week.
price looks very strong as it just made a new high at right around $50. This coming week I’m expecting a retracement to happen back down to the previous highs around $47 and for price to reform supply into demand. So as we all know what goes up must come down. But in price action is more about the wave motion that I believe will continue to soar above $50. Overall, this market is in an uptrend and it looks like it is starting to for another wave right now.
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