{"id":36725,"date":"2016-10-21T01:29:28","date_gmt":"2016-10-21T08:29:28","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=36725"},"modified":"2016-10-21T01:30:55","modified_gmt":"2016-10-21T08:30:55","slug":"bottoming-efforts-deutsche-bank-first-solar","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/21\/bottoming-efforts-deutsche-bank-first-solar\/","title":{"rendered":"Bottoming Efforts: Deutsche Bank Follow-Through and First Solar Breakout"},"content":{"rendered":"

Deutsche Bank (DB)<\/strong>
\nIn early October<\/a>, I pointed out the extreme in bearish sentiment on Deutsche Bank (DB) and the related overcrowding in bearish bets. After DB surged 14% off its latest all-time low, I decided to hold onto my call options which were a play on a bottom. So far, so good. DB printed a 3.7% gain on October 20 which marked a breakout above resistance at the 50-day moving average (DMA). With trading volume surging to more than two times the 90-day average, I consider this move to be a follow-through to DB’s apparent bottoming process. A new close below the 50DMA would essentially invalidate this conclusion.<\/p>\n


\n
\"Deutsche<\/a>
Deutsche Bank (DB) follows through on its bottoming process with a 50DMA breakout on strong buying volume.<\/figcaption><\/figure>
\n<\/center><\/p>\n

First Solar (FSLR)<\/strong>
\nIn late September<\/a>, I explained why I was playing a bottom in First Solar (FSLR). Fortunately, FSLR has yet to look back. The stock took two weeks to complete a test of resistance at its 50DMA. On October 19th, FSLR surged 5.9% on strong buying volume to a new 2+ month high. With additional follow-through the day after, FSLR almost reversed the losses it suffered in sympathy with poor earnings from SunPower (SPWR). <\/p>\n


\n
\"First<\/a>
First Solar (FSLR) confirms its earlier 50DMA breakout with a fresh buying surge.<\/figcaption><\/figure>
\nSource for charts: FreeStockCharts.com<\/a><\/strong>
\n<\/center><\/p>\n

The current bottoming patterns in these two stocks demonstrate the importance of extremes in market sentiment and distinguishing the difference between arguing with sellers and celebrating with buyers<\/a>.<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: long DB call options, short FSLR put option<\/p>\n","protected":false},"excerpt":{"rendered":"

Deutsche Bank (DB) In early October, I pointed out the extreme in bearish sentiment on Deutsche Bank (DB) and the related overcrowding in bearish bets. After DB surged 14% off its latest all-time low, I decided to hold onto my call options which were a play on a bottom. So far, so good. DB printed … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1303,482,548,3,62,1210],"tags":[344,343,6,7],"class_list":["post-36725","post","type-post","status-publish","format-standard","hentry","category-bottom","category-breakout","category-financials","category-solar-energy","category-technical-analysis","category-trading-model","tag-db","tag-deutsche-bank-ag","tag-first-solar","tag-fslr"],"yoast_head":"\nBottoming Efforts: Deutsche Bank Follow-Through and First Solar Breakout - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/21\/bottoming-efforts-deutsche-bank-first-solar\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bottoming Efforts: Deutsche Bank Follow-Through and First Solar Breakout - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"Deutsche Bank (DB) In early October, I pointed out the extreme in bearish sentiment on Deutsche Bank (DB) and the related overcrowding in bearish bets. 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