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SunEdison Stock Will Move Sharply Higher Soon, and This Chart Shows Why

SunEdison (SUNE - Get Report) stock has sold off dramatically in recent months, but the monthly bar chart below shows that shares of this renewable energy company are poised for a major bounce.

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Look closely at the decline from the July swing high near $34 and you'll see what is likely a completed five-wave pattern that has chopped 90% off that rally peak. Then, look back to the left to notice the decline in 2008 was 90% as well. Each of these two massive crashes were preceded immediately by bearish divergence sell signals (higher highs in price vs. lower highs in stochastics). These are highlighted by the bold blue lines in the price pane pointing upward and in the stochastics pane pointing downward. The red ovals pinpoint the spots where late-joining bulls became trapped, paying the highest prices of the entire rally that came before, buying higher highs in price against the lower highs in...


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