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Fan Yang

Canadian Solar Inc. (CSIQ) in a Bullish Breakout

Canadian Solar Inc. $CSIQ has been in a consolidation range after forming a price bottom. Recent we saw some bullish bias within this consolidation range, and suggested bulls are taking over. Indeed, they did and pushed CSIQ above the range resistance.

CSIQ Daily Chart

(click to enlarge)

Breakout:
- The daily chart shows a breakout and a maintenance of a bullish reversal scenario.
- The weekly chart shows the bigger picture. There was a run up in 2013, but price started correcting since 2014. 
- The correction looked to have found a bottom in 2017 and CSIQ looks like it is reversing.
- I think there is upside towards 22.

CSIQ Weekly Chart

(click to enlarge)

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