SunPower Delivers Solar Solutions Stock Expected To Shine
Seeking Alpha Analyst Since 2018
Los Angeles based investor, analyst, and strategist for domestic and international markets. More than 20 years experience investing in private and public companies both in the US and abroad. Skilled in technical analysis, financial modeling, portfolio management, rapid analysis, options, fundamental analysis, and trading systems. Lubaszka studied investment valuation as an undergraduate and participated in the Harvard Business School Executive Education Program.
Summary
- SunPower operates through three segments: Residential, Commercial, and Power Plant.
- SunPower Corporation lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled.
- SunPower Corporation holds several negative signals and I believe that it will still perform weakly in the next couple of days or weeks.
SunPower Corporation researches, develops, manufactures, and delivers solar solutions worldwide. It operates through three segments: Residential, Commercial, and Power Plant. The company provides solar power components, including panels and system components, primarily to dealers, system integrators, and distributors. It also offers commercial rooftop and ground-mounted solar power systems, and residential mounting systems, as well as utility-scale photovoltaic power plants. In addition, the company provides post-installation operations and maintenance services.
SPWR - SunPower Corporation
Industry: Semiconductor - Specialized Sector: Technology Exchange: NASDAQ
SunPower Corporation Stock Analysis
SunPower Corporation gained 0.25% in the last trading day, rising from $7.96 to $7.98 , and has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. The price has been going up and down for this period, and there has been a 2.44% gain for the last 2 weeks. Volume fell in the last day by -325 818 shares, and in total, 754 765 shares bought and sold for approximately $6.02 million. You should take into consideration that a falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Trend
SunPower Corporation lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -12.11% during the next 3 months and, with 90% probability hold a price between $5.84 and $7.72 at the end of this period.
Signals
A buy signal was issued from a pivot bottom point on Tuesday July 03, 2018, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development.
SunPower Corporationholds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $8.07. On a fall, the stock will find some support from the short-term average at $7.87. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
A buy signal from a double bottom formation was found on Tuesday July 03, 2018 with a target of $7.94. Despite the objective of the signal formation has been reached the stock may continue to perform well.
Relative Strength Index (RSI)
RSI14 is 47 and the stock is currently not being overbought or oversold.
Support & Resistance
SunPower Corporation finds support from accumulated volume at $7.87.
Risk
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.14 (1.77%) between high and low. For the last week, the stock has had a daily average volatility of 2.87%.
The recommended stoploss: I hold a sell evaluation for this stock. No stop-loss set.
Overall risk: Low
Evaluation
SunPower Corporation holds several negative signals and I believe that it will still perform weakly in the next couple of days or weeks. I therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture I have downgraded my recommendation for this stock since last evaluation from a Hold/Accumulate to a Sell Candidate.
SunPower leases solar power systems to residential customers; and sells inverters manufactured by third parties. The company also serves investors, financial institutions, project developers, electric utilities, independent power producers, commercial and governmental entities, production home builders, residential owners, and small commercial building owners.
Analyst's Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
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