Solar stocks enjoyed a big move higher during the back half of 2020. And the group appears poised for another push higher in early 2021 as well.
The Solar ETF (TAN) is in a strong uptrend and recently turned up from price support. This is bullish.
I really like TAN here as a way to trade the entire group (stop loss at $105).
On an individual basis, two stocks I like here are Jinko Solar (JKS) and Canadian Solar (CSIQ). Both are breaking out of recent price consolidation formations and have the potential to trade higher. See charts below.
Solar ETF (TAN) Chart
Jinko Solar (JKS) Stock Chart
Canadian Solar (CSIQ) Stock Chart
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
