9 Takeaways From SolarCity Corp's Chart

Schaeffer's Investment Research
  JUN 18, 2013 3:15 PM

This solar energy stock is largely outperforming the broader market, but analysts have yet to climb on board -- three out of four maintain "hold" ratings on SCTY.


The below chart is of SolarCity Corp (NASDAQ:SCTY), which engages in the design, installation, and sale or lease of solar energy systems to residential and commercial customers, and government entities in the United States.

Click to enlarge

Recommendation:  Long

What I Am Looking At:
Strategy:  Looking for the 40-day moving average and the $35 level to hold with the anticipation of a possible move back to the May highs.

This article by Tony Venosa, CMT, was originally published on Schaeffer's Investment Research.

Below, find some more great content from Schaeffer's Investment Research:

Daily Game Plan – Top of the Range

Study of the Week: Is a Lot of Volatility Bullish?

Trading 101: A Look at the Recent Tape

Twitter: @schaeffers
No positions in stocks mentioned.