20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
FuelCell Energy Inc (NASDAQ:FCEL) and Bloom Energy Corp (NYSE:BE) shares are trading lower by 7.14% to $3.51 and 6.62% to $15.95 respectively Friday morning. Shares of fuel cell and clean energy manufacturing companies at large are trading lower after Senator Joe Manchin said he would not support an economic package that contains new spending on climate change.
What Happened?
Per a CNN report, Manchin "told Senate Majority Leader Chuck Schumer and his staff "unequivocally" that he won't support the climate or tax provisions of a Democratic economic package, two sources familiar with the talks tell CNN."
The CNN report on the matter goes on to state Manchin's office pointed to rising inflation. "Political headlines are of no value to the millions of Americans struggling to afford groceries and gas as inflation soars to 9.1%," Manchin spokeswoman Sam Runyon said in a statement.
"Senator Manchin believes it's time for leaders to put political agendas aside, reevaluate and adjust to the economic realities the country faces to avoid taking steps that add fuel to the inflation fire," Runyon stated.
Why it Matters
Shares of several companies in the broader industrials sector are trading sharply lower in 2022 amid overall weakness as stocks continue to sell off amid rising inflation and Federal Reserve policy tightening.
The news of Manchin turning down further climate or tax provisions is a setback for the clean energy and EV charging sectors at large, which have been seen as beneficiaries of Biden's economic and infrastructure agenda.
See Also: Here's Why Pinterest Stock Is Popping Off Today
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine." A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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