Technical outlook (update for Sunpower)

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  • #40832

    Research Department

    Sunpower weekly chart has certainly broken a new high and after reaching 111.3% extension level of the descending channel, the stock head for a correction. From a mid-term perspective, the stock will face further correction down towards either one of the support zones highlighted.

    From the sub-wave count perspective, the stock is still en-route completing its final 5th wave. Hence, the bullish upside is still valid.




    Hi wei ren.

    As of 16/3, do u think Sunpower has bottom ? If so, what will be entry price ?


    Research Department

    Hi Chris, 

    Sunpower rebounded at support zone 2. However, the stock is still well below the 20-day moving average. Hence, you may look at the next support zone highlighted in my chart. 

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