It seems you have JavaScript disabled.

Ummm.. Yeah... I'm going to have to ask you to turn Javascript back on... Yeah... Thanks.

Ascent Solar - ASTI at Trader’s Narrative

Ascent Solar - ASTI

As the name suggest, Ascent Solar is in the burgeoning solar power sector and today it lighted up just about any sort of filter set for gaps or unusual volume or high trade count. By luck, ASTI was featured as one of the movers and shakers in the daily email I get from QCharts (at around 11 am). The news which propelled it to almost double from its close yesterday was a strategic aquisition of a good chunk of their shares by Norsk Hydro.

ASTI 15 min chart.png

Things were ho-hum until the sixth candle which took price back up to the opening range high. The next two candlesticks were consecutively narrower in range, while remaining just below the opening range high (green circle). As price contracted, so did volume (green box).

Finally price broke up above the inside candle’s high (and the opening range high). It continued in an almost uninterrupted rise to reach almost $9 and close just under its high of the day. The combination of narrow range candles and a strong, enduring trend produced around an +8R. All in all, a textbook setup and trade.

Enjoyed this? Don't miss the next one, grab the feed  or 

                               subscribe through email:  

One Response to “Ascent Solar - ASTI”  

  1. 1 When Stock Charts Go Bad at Trader’s Narrative

Leave a Reply