At the end of June we learned that the company signed a contract for supply of bifacial SF7 solar trackers with Statkraft for the construction of four photovoltaic plants in the province of Cádiz, which will add an installed capacity of 234 MW.
Three of the four plants will be installed in San José del Valle -Arenosas, el Yarte, la Guita- and a fourth in Malabrigo, in Jerez de la Frontera. The execution of the project is scheduled for this year. Technically, a bearish guideline is a line that presents flawless decreasing highs and that it must meet the condition of having, at least, three points of tangency or support in it. We are not worth just two touch points. At the end of the day, it is a resistance zone where the slope is negative and in which every time the price touches it there is a paper discharge. Namely, supply is higher than demand and that's why prices fall.
And that is what we have on Soltec's daily chart since it marked annual and historical highs at the beginning of the year at 15.10 euros. We have three points of tangency on the resistance (dynamic) line. From which it follows that the first sign of strength is to overcome the last decreasing maximum, 7.74 euros. Remind them that this value is quite narrow, not very liquid, for the good and for the bad. Or what is the same, with little money you can easily move both up and down.
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