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SunPower’s Chart Says It’s Set to Shine

SPWR broke from a well-defined head-and-shoulders bottom

   

SunPower (SPWR) — This large-cap solar company just announced an agreement with KB Home (KBH) to install “innovative energy storage solutions at certain KB Home locations in California.” Its solar power systems are currently offered to new homes buyers in more than 150 KB Home communities.

On June 13, SPWR broke from a well-defined head-and-shoulders bottom supported by high volume at key technical points of the formation. The target for the breakout is $43. Despite Tuesday’s sell-off, the stock is currently somewhat overbought, so it is recommended traders enter a limit order at $36.50.

SPWR Chart
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Chart Key


Article printed from InvestorPlace Media, http://investorplace.com/2014/06/trade-day-sunpower-spwr/.

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