TAN – Invesco Solar ETF
Context Technical Analysis
Since early April, TAN is moving in a bullish channel – the green lines.
The price is currently trending above its rising 10- 20- and 50-day moving averages.
Finally, the price broke above the resistance line, the orange line. .
The Relative Strength of ITB has been moving up and above its 20-day moving average since late April.
Higher Time Frame
From TAN's weekly chart below, we can see:
· The ETF is moving up and above its 10- 20 and 50-week moving average
· TAN broke above the resistance line – the orange line
· From the Relative Strength chart, we can see that TAN outperforms.
Money Management Guidelines
Suggested Sell: 33
Suggested Trade Size: 330
Our Money Management Guidelines are based on the assumption that our capital is USD 100000 and we allow a 1% loss of capital per trade.