This renewable energy stock is displaying a bearish Flow after many days.

The weekly is creating a false upside breakout and daily is displaying a bearish Flow candle at Price Extreme High.

Thought the industry was weak recently, today the industry is strong. Watch to see if the industry weakens so that the technical and industry strengths can be aligned. The stock is overvalued and is steadily coming down, though its peers are mostly up today (as of 9:45 AM EST).

See how you could prepare for a bearish trade on $SPWR based on my CUE analysis shared four days ago - look the snapshots I shared then and compare them with today's snapshots.

CUE Edge:

A) The industry has weakened now.

CUE Vital:

B) The stock was/is overvalued.
C) Today, 83% of renewable energy peer stocks fell.

CUE Global: 

1) Weekly completed a false upside reversal and (2) displayed a Bear Release signals.

3) The day when I initially shared the post, the price had recovered - Traffic Light candle color turned yellow on that day at the close. 

4) However, the Memory resistance held, price could not go above it.

5) Yesterday (16th Sep) Traffic Light candle color turned bearish (red).

6) Today the stock gapped down at the open and continued to fall sharply, though the market ETFs were steady at their Memory supports.

7) The reversal is playing out at Pendulum High - a lucrative shorting point.

Could you track SPWR and use CUE analysis to manage your long position and probably short it in a timely manner - I am guessing a little bit ahead of others? 

4 1  Industry Scorecard.jpg  5 1 Fundamental Snapshot.jpg  6 1 Technical.jpg 
As $SPWR approached the Memory trendline support and its industry was showing strength, you could exit the bearish trade with a profit.

I did.

1) I shared the bearish CUE idea on 14th Sep, five trading days ago.

2) At that time, I was aware of and highlighted the Memory support below.

3) Today, the stock came near the Memory support. It gapped down at the open but then recovered. The industry score from CUE Edge was showing strength. Looking at that, you could probably book profit in the short trade.

4 1  Industry Scorecard.jpg  6 1 Technical.jpg

Disclaimer: This site is for educational purposes only, explaining the use of CUE systems and techniques. It is not for trade advice. Trading involves risk. You and only you are solely responsible for the outcome of your trades.

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