Volume Trend signals Bounce Potential for this Solar Company
XsunX, Inc (XSNX)
Happy Monday everyone. Today I’m looking at a favorite solar company of mine, XsunX, Inc. (XSNX). This company focuses on providing affordable, efficient solar energy solutions to businesses. XsunX does everything from technology assessment to design and development in order to make its solar solution an affordable energy option for its commercial clients.
XSNX recently sent out the shareholder update outlining the milestones it has achieved in rolling out and strengthening the ability to compete effectively for the sale of commercial power systems in the southern California region. The company also announced a new option for its customers through a lease to own program with zero down for low-cost financing and a larger commercial system. This offers a power purchase option that would provide a client with low-cost, long-term service.
As I explained last night, XSNX has been seeing a decent increase in volume over the past several days. XsunX ypically trades around a million shares a day based on its three-month average but over the past week, it has seen days with more than 5 million shares traded. The turning point that I’m looking at may have begun Friday when XSNX saw a high of 0.0108, closing the week out at 0.01. I believe it may only take a little spark for this to hit a momentum stride. Take a look at the chart below:
RSI has begun to pull out of “Oversold” territory as of Friday’s close. In my opinion, this could be the signal for a new bullish reversal pattern on the chart with early momentum favoring XSNX.
The recent downward trend that has been seen over the last few days looks like it could be over. After XSNX closed green on Friday, the chart’s candlesticks suggest to me that a bounce may already be in the works. Early action Monday morning could spark a new breakout pattern heading into the week.
Attention on alternative energy has continued to increase over the last 5 years with recent interest in solar power. A report published by Portland-based Clean Edge shows that the landscape for alternatives has begun to change, with solar moving up in the rankings. The report shows that for the first time since 2000, when Clean Edge first began reporting, the world installed more new solar PV generating capacity than wind power (36.5GW vs. 35.5GW); the global solar market continued double-digit growth of 18%, and increased to $91.3 billion.
With the installed cost of solar expected to fall, Clean Edge projects that by 2023, the global cumulative installed solar PV capacity will surpass that of both wind power and biofuels. Additionally, the report found that the U.S. installed an estimated 4.2 GW of new solar PV in 2013, deploying more than Germany (an estimated 3.3 GW) for the first time in more than a decade. This could position XsunX Inc to take advantage of a major market in the commercial solar sector!
Pull up XSNX this morning, read the recent announcements from the company (HERE), and let’s get rady for the open.
Thank you for reading and happy trading!
Mr. Investor News Source
Don’t ever invest based on what I say. Do your own research and consult with a licensed profession before investing. Any statements and opinions given are amateur and biased and should be treated as such. Past performance does not indicate future performance in any way. The performance of all alerts uncompensated and compensated in no way predict the performance of current and/or upcoming alerts. Check the latest SEC filings before investing, and research other information on the risks of investing in microcap companies at www.sec.gov. For important information concerning this email, including applicable disclaimers, compensation consideration, and additional information please make sure to read the information contained within. Investor News Source has been compensated five thousand dollars by the company for one day of coverage on XsunX. INS has been previously compensated a total of eight thousand dollars year to date by the company for one day of coverage on XSNX. Investor News Source owns 3200 shares of XSNX purchased in the open market at fair market value which could be sold at any time and may negatively effect price. Investor News Source previously owned 3,908,171 shares of XSNX which it has since sold in the open market at fair market price. To view our full disclaimer, click HERE.