Confirmation of yesterday’s doji on this solar playSolarCity Corporation ($SCTY) is trading on higher than normal volume today. SolarCity Corporation is up 4.76% at $36.12 on a volume of 1,518,293 shares. That’s already 0.74 times the total normal daily volume of 2,040,035 here shortly after 11 AM EST, setting up SCTY to trade above its average daily volume. Shares are down 31.5% from May’s high of $52.77. Yesterday’s high volume (4,944,803 shares) doji indicates a very short term abatement of selling pressure. Working against SCTY is the fact that the highest volume yesterday was on the selloff not the rebounding price action.
SolarCity Corporation is above the both the 50 day moving average and the 200 day moving average indicating SCTY is in an uptrend,
SolarCity Corporation SolarCity Corp is engaged in designing, sales, engineering, installation, monitoring, maintenance and financing of solar energy systems to residential and commercial customers, or sale of electricity generated by solar energy systems to customers.