Good Morning!
I like to let our hair down with the easy charts on Fridays so Ascent Solar Technologies Inc. (ASTI) fits the bill nicely.
ASTI is a rock-simple business. They sell solar phone chargers at around $150 per plug on some models.
As you can expect, demand for an always-available power source is robust. Revenue is positive and nudging up at a rate of 8%-10% per year.
Long term, I’m thinking companies like ASTI are where the future of consumer electronics is going. Of course it’s still “ground floor” now!
Where we come in is anticipating how ASTI might move when it’s time to leave the ground floor behind:
Oversold on the RSI, you know it! Whenever ASTI has let the RSI get around 30 or below that level, we’ve seen a big bounce in the past.
I marked the biggest ones in recent memory up there. You’ll note that they come in two stages: a little lift and then a MONSTER rally!
ASTI scored the lift a few weeks ago. Moving from $0.02 to $0.03 was a big payday then, but now we’re ready for Stage Two.
Historically the second surge came in double to triple the first one, so this trade could do EXTREMELY well if it moves that way for us today.
Do we get to see it? Let’s find out!
Sincerely,
Michael Reef
yourstockguy@gmail.com
