Bullish fundamentals have sparked a favorable technical outlook for TAN. Deron Wagner of Morpheus Trading Group says if TAN continues to hold above $29-$30, upside from here could be significant for the fund.
“If TAN continues to hold this trendline, we should eventually see another wave up that could potentially take the price to the $40 area,” Wagner wrote. A move to $40 represents more than 25% upside from where TAN closed Wednesday.
Guggenheim Solar ETF
ETF Trends editorial team contributed to this post.
