Signal Says Solar Stock Due for a Bounce

Buy the dip on solar technologies stock ARRY

Laura McCandless

Deputy Editor

Jun 20, 2023 at 3:05 PM

ARRY

Solar tracking name Array Technologies Inc (NASDAQ:ARRY) has been slipping since its 52-week high of $24.99 in May 23, though still up 10.4% year-to-date. The pullback could soon be over, if past is precedent, as the stock has come in contact with a historically bullish trendline.

Per Schaeffer's Senior Quantitative Analyst Rocky White, ARRY is trading within one standard deviation of its 160-day moving average of its 160-day moving average for the third time in the past three years. The stock was higher after both of the past signals, averaging a large 24.5% return.

ARRY June20

It's also worth noting that short interest represents 13.8% of the stock's available float. It would take nearly five days for shorts to cover their bets, at ARRY's average pace of trading.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.