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Sunworks Reversal Trend Taking Place

By António CostaStock MarketsOct 06, 2016 05:47PM ET
www.investing.com/analysis/sunworks-inc(nasdaq:sunw)-there-is-a-reversal-trend-taking-place-200157567
Sunworks Reversal Trend Taking Place
By António Costa   |  Oct 06, 2016 05:47PM ET
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Sunworks Inc (NASDAQ:SUNW) price action finally broke out of a falling wedge pattern accompanied by a strong volume expansion, suggesting a trend reversal higher. At the same time the stock also closed back above the 50 and 200EMAs.

The daily technical chart set-up for Sunworks appears to be near perfect to deliver gains in the coming sessions. Short-term technical indicators are looking bullish and the MACD has produced a new buy signal. I see a new impulse higher that projects a rally through 3.36. If momentum continues on Friday, we could have a nice winner on our hands.

SUNW Daily
SUNW Daily

Sunworks Reversal Trend Taking Place
 

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Sunworks Reversal Trend Taking Place

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Disclaimer: This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don\\\'t consider buying or selling any stock without conducting your own due diligence.
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