$TAN Is This Getting Ready for a Stage 2 Breakout?

Clean Energy (Solar) has been in a downtrend since January 2021! Every time it looks like it is setting up for a stage 2 breakout, it has broken down. Will this time be different?

Here is what I see on this chart.
TAN
was in a clear downtrend until mid-December 2024. Then it challenged its previous high from the beginning of December. That failed BUT, it seems to have found a bottom as here we are in early February, and it has not sunk any lower than the December lows.

I am optimistic that we may be ready to enter a Stage 2 uptrend. However, it has work to do. The first step is to get up and over the 50 DMA (red). Next it needs to break the Downtrend line. It also needs to put in a higher high and finally put in a higher low. As I said, it has work to do.

Having said all of that, I have an alert set just over the 50 DMA where I will look for a good entry where I can put in a tight stop should I decide to make the trade. IF, it is going to enter a sustained uptrend it “could” be a big winner. All TBD.

These are my ideas, if you think it makes sense for you, please make it your own trade that fits within “your” trading plan.