The bounce in long-suffering solar stocks could be for real, according to the charts

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First Solar Inc News

Guggenheim Solar ETF,Personal Finance,Markets

Katie Stockton breaks down the charts on the solar play.

Solar stocks were out favor last year, noting the Invesco Solar ETF lost nearly 27% in an extension of its long-term downtrend, which has been in place since early 2021. However, there are signs of stabilization in TAN from a technical perspective after two successful tests of last year's low near $41. The latest retest of support was associated with a counter-trend 'buy' signal from the DeMARK Indicators, which gave way to the current relief rally.

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