By Dan Darrow
September 08, 2022
Intraday Update: CSIQ
The Goldman downgrade on CSIQ has proved to be too much to overcome today. We went ahead with the Oct21 $48 - $55 call spread initiation because the stock was still in the consolidation even with the weak open, but now it is losing key 20day sma support and hitting the tight 43 stop level. The trade will be closed after only a couple of hour hold, and while it is frustrating the way it played out, the loss is only modest because of the tight stop. If CSIQ gets back above 47 quickly, we can try another bullish strategy.
Trader Author Portfolio Holdings
**As of the date and time of publication