Sunworks, Inc. trades under the ticker SUNW & has recently experienced a bullish surge in price. Yesterday alone SUNW stock climbed by ~239%, and as of 8:05 am it is down 16% from yesterday’s price amid mixed signals in the futures markets.
While it looks to establish its new trading range there should be many opportunities for traders to make some money.
Sunworks, Inc.’s stock does not have options, so a trader would be looking for an entry into common shares as it begins to readjust to its new price range.
A trader in this name will have to be vigilant though, as there are no puts to use to hedge against volatility, and using SQQQ calls or shares may be a bit too aggressive, despite SUNW’s high Beta of 2.96 (5 year monthly).
SUNW Price: $3.28 (pre-market)
10 Day Moving-Average: $0.93
50 Day Moving-Average: $1.16
200 Day Moving-Average: $0.77
RSI: 68
While today may not be the best day to hop into them as it may be a risk off Friday for many folks, there should be some appealing entry points, particularly as the 10 Day Moving-Average prepares to cross the 50 Day Moving-Average in the coming trading sessions.
*** I DO NOT OWN ANY SHARES OF SUNW ***