The clean energy sector has been a noisy group to watch this year. Many of the stocks posted 50%, 70%, even 100% gains during the month of January.
But that was all dashed when the clean energy trade got crowded and hit its highs in February.
Crowded trades tend to see exaggerated moves to the downside as “the crowd” starts to exit, which results in a snowball effect of selling. That’s exactly what has taken this group of stocks down by 35-50% over the last two months.
Now, I’ve been watching the technicals on this group extremely closely. And I believe that this pullback will result in one of the strongest “buy-the-dip” opportunities that we may see in the next year, or maybe even two.
And if the technicals are right, we may be at the turning point for this “new technology” sector.
That’s why this week’s watchlist focuses on the two ETFs that represent the clean energy sector, along with a select few stocks that I’m eyeing from the industry.
Each are poised to start doubling or tripling some timely investments over the next few months – so, let’s get to it.
Adapted from Chris Johnson 25 Apr 2021
Mark his words....
#ICLN TAN FSLR FCEL ENPH SPWR
