Trade Ideas for Wednesday - CIEN, ENER, FSLR, SPWR, LDK
LDK Solar shares were up more than 8% today with more than 4 million shares changing hands. For a day like today, this was a huge up side movement. Looking at the daily chart, stock has found a nice support around $40, stabilizing some of the recent losses. However, today movement might have surprised a lot of people who were waiting for a breakdown. So, stay tuned on LDK tomorrow, because a breakout of the downtrend line could be signaling a change of trend for this stock.
SPWR - It looks like this stock has confirmed my previous analyse, and retest of $100 is now more likely. MACD has issued a bearish signal, since the FastMA has just crossed below the SlowMA.
I would not be surprised to see stock drop back tomorrow to $220 area. RSI is in bearish territory. The short term trend is DOWN. Exit short positions only if stock breakout above $253.76.
Energy Conversion Devices have found support on its 50 dma. If that support is broken, then the stock should retreat to $26.50 level.
Ciena (CIEN) dropped below $30.00 support levels quite recently, but it doesn't seems that company may have bottomed out in the short term. The chart is ugly, like many others. Looking at the daily chart, stock has support now only at $26.09 and next at $24.75.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a nice evening !!!
AC
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
That's All. Have a nice evening !!!
AC
Labels: CIEN, ENER, FSLR, LDK, SPWR
