Thursday, March 24, 2011

Wind Energy (FAN) catching a bid

Wind Energy (FAN) Weekly Chart
  • The Wind Energy ETF (FAN) seems to be catching a big the last two weeks after a steep decline during 2010.
  • The nuclear disaster in Japan, as awful as it is, has been a large benefit to the Wind Energy sector. This, in my opinion, has been the catalyst for the move in FAN. For more information on the fundamentals behind this rally see this, this, and this.
  • FAN broke out of a strong basing pattern on HUGE volume, showing strong accumulation, and seems to be moving towards resistance in the $12.50 area.
  • Some firms in this sector should be some pretty decent investments during 2011.

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