BWEN Broadwind Energy – Bullish Inverse Head And Shoulders Chart Pattern
Another quick stock trading idea that is part of the Clean Energy / Renewable Energy Investment Theme. BWEN – Broadwind Energy has formed an inverse head and shoulders pattern on the weekly chart. Great momentum. Great volume surge. Buyers are aggressive and busy accumulating stock. An overall bullish pattern. The stock might need a bit more time and might chop around a bit longer around the 10 US$ level. I wouldn’t bank on it though. BWEN could easily march higher without pausing, the bullish implications of the weekly pattern certainly would allow for that.
Click on the chart to maximize:
The whole wind energy sector is on fire as you can easily see in the following chart.
BWEN business summary from Yahoo finance:
Broadwind Energy, Inc. provides products and services to the energy, mining, and infrastructure sector customers, primarily in the United States. The company operates in three segments: Towers and Weldments, Gearing, and Services. The Towers and Weldments segment manufactures towers designed for two megawatt and larger wind turbines. This segment also manufactures specialty fabrications and weldments for mining and other industrial customers. The Gearing segment engineers, builds, and remanufactures precision gears and gearing systems for wind, oil and gas, mining, and other industrial applications. The Services segment offers a range of services, including non-routine blade and gearbox maintenance services for both kilowatt and megawatt turbines primarily to wind farm developers and operators. It also provides field services to the wind industry; dedicated drivetrain services; and industrial gearboxes precision repair and testing services. The company provides its products and services to various wind energy customers that include wind turbine manufacturers, wind farm developers, and wind farm operators, as well as oil and gas, mining, and other infrastructure industries. It sells its products through its sales force and manufacturers’ representatives. The company was formerly known as Tower Tech Holdings Inc. and changed its name to Broadwind Energy, Inc. in 2008. Broadwind Energy, Inc. is headquartered in Cicero, Illinois.
Successful speculation requires that we constantly do that which is psychologically uncomfortable and unnatural. – Richard Weissman
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