A-Power Energy (APWR) Roaming In Bearish Flag
A-Power Energy (APWR) has been generating a lot of buzz over the last week or so. The renewable energy company seems to have been consolidating over the last couple of days and seems poised to pop one way sooner than later.
The stock chart shows a bearish flag pattern, with the support riding inline with 200-day moving average. Both RSI and MACD seem willing to turn upwards. While a break below support is likely, the eminent breakout higher is still available.
Anything below 200 MA (support) is considered bearish.
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The Last Bear
(Contrarian Profits, 9/25/09)
Apwr right here…. The Jan 12.50/ 2012 calls even better….. Time to buy folks….
APWR used the funds to help purchase Evatech. The company warrants the 5.78 million shares @ $16.91 / share, exercisable June 21st. Sounds to me like they are pretty confident that earnings and the stock price are going to improve in the next 6 months.