$iShares Global Clean Energy ETF(ICLN)$ $ICLN getting ready for breakout.
If you are holding $ICLN, you must be wondering why the dirty energy stocks like Exxon and Chevron, etc are all going up while my clean energy ETF is coming down? That's because crude oil has been getting stronger (controlled by OPEC) and the world is not going to shift to clean energy instantly. It will probably take many more years for demand to shift despite all the talks by governments all over the world.
Looking purely at the chart, $ICLN has strong support at $21.50. Prices are also congregating along the 200, 50, 21, 8 days moving average. This is a sign that price is being "squeezed" right now and there is a possible breakout in the next few weeks. If you are looking to keep the stock for the long term, now is a good time while the stocks are not being overpriced. Cheers.
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