DailyPlay – Invesco Solar ETF (TAN) – November 4th, 2021

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The bullish DailyPlay for Thursday, November 4th is the Invesco Solar ETF (TAN). TAN’s top 10 holdings are a variety of solar-based technology companies that offer broad-based exposure to the solar industry. 

Technical View

• Strong breakout of the $93 previous resistance level. Price has pulled back and bounced higher from this level. 
• Very Strong Technical Score (10 out of 10).
• Bullish 1M and 6M trends.

Fundamental View

• Strong MSCI ESG rating.
• The majority of TAN’s holdings are currently undervalued. 
• Broad-based exposure allows for lower volatility during earnings season

As this is a debit spread, look to take profits at 75%-100% gain and cut losses at 50%:

• Take Profits: $10.68 – $12.20 Credit
• Stop Loss: $3.05 Credit

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