Hand it to the solars today, they held their own, and in the case of SolarCity (SCTY), it improved its prospects in a horrible tape quite nicely.
I talked about SCTY on Saturday as a potential play off of the 200-day moving average and it performed quite well.
Though if you were playing the trade with a stop-loss just below the recent lows at $48.39, it got you buy trading just a penny below that price point… but of course that is the nature of the market beast – to frustrate as many traders as humanly possible. And it definitely does a good job of it too.
Now it seems like SCTY has a date with resistance just below the $60 market.
Take a look. If you are long this stock right now, whatever you do, move that stop-loss up so that today’s gains aren’t in vain.
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