Trina Solar (TSL) is poised to break out here, but it has important resistance to get through first. The RSI has stayed bullish throughout the 1 year pullback. The stock has drifted sideways since last August.
After breaking the down sloping trend line, Trina Solar is trying to get through the 40 WMA. It has struggled here for two weeks, so this is becoming more meaningful.
The MACD recently crossed above the signal line and the Relative Strength has turned up above the down sloping trend. A horizontal line could be drawn across the last 6 months peaks. If Trina can get rolling, it could be a nice long breakout. Definitely worth watching right here.
Have a good weekend,
Greg Schnell, CMT