Has anyone been watching solar stocks lately?
It’s been a terrible few years for them, but something interesting is happening with $TAN, the Invesco Solar ETF.
It’s showing a multiple bottom pattern on the charts, which usually hints at a potential uptick after hitting a low point a few times.
It’s not just $TAN either.
$SEDG (SolarEdge Technologies) and $CSIQ (Canadian Solar) are showing similar patterns. Seems like there might be a sector-wide trend brewing…
With all the global push towards renewable energy and governments rolling out incentives, the solar industry might be gearing up for a rebound this year.
What’s your take on this? Do you think solar stocks are on the verge of a 2024 recovery?
