Alternative Energy Boost?
As I sit here pedaling a stationary bicycle to generate electricity to keep my computer running out here in California, several of the
alternative-energy stocks are setting up in a second consolidation or base in
response to the current crunch here in the Golden State. This action could be
anticipating a rotation into an increase in usage of these alternatives, or at
least people taking a closer look at using other sources of renewable energy.
Plug Power
(
PLUG |
Quote |
Chart |
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PowerRating) has taken out the November 8 high after breaking out
of a low level cup and handle on January 11. The next likely target could be a
test of the October 24 high.
FuelCell Energy
(
FCEL |
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Chart |
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PowerRating) could be setting up for a Cooper
“Rule of
Four” breakout, when a stock manages to take out a
triple-top.
Finally, Astro Power
(
APWR |
Quote |
Chart |
News |
PowerRating) is settling into an inside day
after taking out the top of its nine-week cup formation in Tuesday’s trading. If
it can continue above this level it may possibly make a run toward its old
highs.
See ya tomorrow! (That is, if I don’t collapse from all this
exercise.)
Duke