Just a few days ago, shared charts of 2 solars: TSL and LDK, since then, LDK has broken down from 61.8% retracement level $8.84 and is now at $8.20, and TSL has broken 50% level and is now sitting on 61.8% retracement level at $21.71. Another way of viewing it is that TSL is testing support of last August, and LDK is testing the September breakout level as support. Adding to solar perspective, FSLR has broken down the 61.8% level early May as well, it is testing the lows in last August and December, and is forming a downward wedge (2/3 chances of being bullish).
Canadian Solar is in a similar shape:
Going to banking sector, Bank of America is doing a similar thing:
Thursday, May 19, 2011
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