Do or die for Meyer Burger!
Meyer Burger has faced an enormous uphill battle ever since the shift from being a company known for manufacturing machines for solar panel production (and more...) to combining everything under one roof and sell mainly solar panels.
The market reacted very positive to begin with but huge inflow from subsidized and therefore cheaper chinese solar panels made it almost impossible to remain profitable.
Meyer Burger seeks green grass on the other side of the Atlantic Ocean where the US is heavily investing in green energies and lucrative contracts have been signed. However, Meyer Burger will need some time to finish all production sites in the US and has recently asked their shareholders for money.
From a chart technical point of view Meyer Burger has only two outcomes. 1) To die rather soon as the market value has fallen to almost nothingness or 2) to raise from the ashes!
I have to admit that I am biased as a shareholder but I do see potential that we have seen the end of a very outstretched wave 2 including a irregular wave b and that the share price will move higher again BUT we need positive news to make that happen and this will take patience.
The market reacted very positive to begin with but huge inflow from subsidized and therefore cheaper chinese solar panels made it almost impossible to remain profitable.
Meyer Burger seeks green grass on the other side of the Atlantic Ocean where the US is heavily investing in green energies and lucrative contracts have been signed. However, Meyer Burger will need some time to finish all production sites in the US and has recently asked their shareholders for money.
From a chart technical point of view Meyer Burger has only two outcomes. 1) To die rather soon as the market value has fallen to almost nothingness or 2) to raise from the ashes!
I have to admit that I am biased as a shareholder but I do see potential that we have seen the end of a very outstretched wave 2 including a irregular wave b and that the share price will move higher again BUT we need positive news to make that happen and this will take patience.
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