02 Jun | Day 35 – Portfolio Value £6,289 Up £165 On The Day
As the heftiest share in our portfolio – on current weighting it makes up 56% of our holdings – any movements in ReneSola’s share price has a substantial effect on where we end the day.
After exploring 140 pence yesterday, today was always going to be a test for ReneSola as it has run into resistance repeatedly at this mark over the past three months. Not only did it open above 140 pence this morning, it traded above that mark all day, surging as the markets opened in New York. Taking a closer look at the three month chart for Renesola you’ll notice it has nudged above the 5, 10 and 26 day Exponential Moving Average (EMA) lines and is closing in on the 200 day EMA. All strong signs but I’ll be very interested to see what happens on Wednesday.
Low Carbon Accelerator took a 6% whack but making up less than 9% of our portfolio, the impact was minimal.
So after a £440 pound appreciation this week already, I say, bring on Wednesday.