TerraForm Power, Inc. ( $TERP ) – stock is trading under 20 dollars and offering a possible buying price between $16.01 – $16.81. Let’s look at the stocks technical actions using a weekly chart.
2. The stock breakout on a solid volume back in March.
3. The stock immediately fell in to a long consolidation.
4. The stock also found support at the 50 day moving average line during the consolidation.
5. The stock finally brokeout from the consolidation and witnessed a solid run.
6. The stock appears to be in a three week consolidation, now.
7. The stock witnessed heavy accumulation volume than distribution since March breakout.
8. The stock is offering possible buying price between $16.01 – $16.81, with a stop loss at $14.73.
