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Global “Opportunity” with TAN: “Solar Ends Its Dark Ages”

See how an Elliott wave triangle price pattern meant opportunity for investors into this ETF

by Bob Stokes
Updated: January 16, 2020

Classic chart patterns become "classic" for a reason: They work.

One of them is the triangle, and is described in EWI analyst Jeffrey Kennedy's Trader's Classroom:

A triangle appears to reflect a balance of forces, causing a sideways movement that is usually associated with decreasing volume and volatility. The triangle pattern contains five overlapping waves...

One of the various types of triangles is the contracting triangle, which you can see in this April 2019 Global Market Perspective chart of the Invesco Solar ETF. It has the NYSE ticker symbol of TAN. At the time, our analyst said:

TANApril2019

Solar ends its dark ages. [TAN] has completed a [bullish] contracting triangle since its 2008 high. That should now [mean opportunity] to investors.

Bullish, indeed.

Let's fast forward to the recently published January Global Market Perspective to see what's occurred since that bullish forecast. Here's a chart along with the commentary:

TanJan2020

Our April 2019 issue pointed out that the Invesco Solar ETF had ended a contracting triangle from its 2008 high at its November 2018 low. The ETF has since completed an initial impulse wave up.

Yes, when our January Global Market Perspective published, TAN had climbed more than 30% since our bullish forecast in April.

Also in our January Global Market Perspective, you can learn about "Three Ways to Play China" using ETFs. Plus, in the Asian-Pacific section alone, you'll find analysis of 12 individual stocks, including casino stocks in Macao and Australia.

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For example, in the Asian-Pacific section of our January Global Market Perspective alone, you"ll find "Three Ways to Play China" using ETFs. You"ll also get useful analysis of 12 individual stocks -- such as Tesla and several casino stocks in Macao and Australia -- and so much more.

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