Moving average matters: FuelCell Energy and SolarCity
As of January 26, 2016, FuelCell Energy (FCEL) is trading 39% below its 100-day moving average. In comparison, SolarCity Corporation (SCTY) is trading 15.7% below its 100-day moving average. SCTY rose 11.28% as on January 26 and closed at $34.24. SCTY has been trading in a narrow range of $30–$35 for the past few weeks. Since January 14, 2016, the stock has not been able to close above its 100-day moving average.
Moving averages of PLUG, ENS, TAN, and GEX
As of January 26, Plug Power (PLUG) was trading 13.6% below its 100-day moving average, and EnerSys (ENS) was trading 15.6% below its 100-day moving average. The Guggenheim Solar ETF (TAN) and the VanEck Vectors Global Alternative Energy ETF (GEX) were trading 13.3% and 7.8%, respectively, below their 100-day moving averages as of the same day. Meanwhile, the PowerShares WilderHill Clean Energy Portfolio (PBW) was trading 9.5% below its 100-day moving average.
FuelCell Energy, meanwhile, was trading 2.2% below its 20-day moving average, and as of January 26, FuelCell rose by nearly 3.4%. In comparison, SolarCity was trading 19.7% below its 20-day moving average on the same day.
Wall Street analyst consensus estimates
Wall Street analyst consensus estimates suggest a whopping 106% upside for these four renewable energy companies. Over the next 12 months, FuelCell Energy and Plug Power could see rises of 219% and 73%, respectively, from their current levels. EnerSys could see a 37% rise, and SolarCity could see a 96% rise over the next 12 months.
For further related analysis, check out Market Realist’s Energy and Power page.