Canadian Solar (CSIQ) Slides to a Key Support
Canadian Solar $CSIQ has been consolidating since a rally fro mid 2018 to early 2019.
CSIQ Daily Chart

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Consolidation:
- As we can see on the daily chart, price stalled after reaching the $25-$26 area. It came down to $17 and found support.
- This was a good sign for the bullish continuation. However price didn't reach the previous high on the year and instead retreated after reaching the $24-$25 area in mid-August.
- Since then, price has been falling. It fell sharply during the 9/25 and 9/26 session, closing right around $20.
- Here, price is challenging a rising trendline and a previous support pivot.
- This is going to be a key support for the bullish case.
- If price instead clears below $20 to close the week, there is a good chance that it will fall back to the key support at $17.
- Below $17, CSIQ is probably in bearish mode back towards the $10.75-$11 area.
CSIQ Weekly Chart

(click to enlarge)