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Monday, June 16, 2008 

SOLAR stocks on fire !!! LDK, FSLR, CSIQ, ESLR

Shares of solar companies rose Monday as analysts become more optimistic about prospects for global growth in demand for solar energy products.Credit Suisse analyst Satya Kumar said that talks with industry officials last week at a major German solar technology conference convinced him to increase his estimate of total 2008 demand for solar energy products to about 4.6 gigawatts from 4.2 gigawatts. "We believe global demand is tracking much better than expected due to strength in Italy and other geographies," he wrote in a client note. It's time to focus our attention on this Sector again !!!


Chart courtesy of stockcharts ( click to enlarge )

I'm watching Evergreen again as the stock looks to be setting up for a big upside move. ESLR has a very interesting daily chart. The stock is now back to positive trend again as it is now back above 50 day moving average after staying below the moving average for five sessions. Now with KD rising the stock could be heading for a new bull market rally. The stock hit a high of $10 on Monday, which is resistance for Tuesday’s move. I'm buyer of ESLR for this move and expect to see a bigger mover soon. Evergreen will move very quickly, so watch the stock very closely over the next few trading sessions.

Chart courtesy of stockcharts ( click to enlarge )

CSIQ - The Bull Flag has been penetrated upwards on the daily chart. The stock closed a few cents off highs and I expect to see a follow through move tomorrow.

Chart courtesy of stockcharts ( click to enlarge )

FSLR - The stock has been under a buying pressure in the last few days, and overall the stock still looks healthy. The technicals look good, as seen in the chart above. The RSI indicator sloping up and crossing the 50 mark and MACD crossover indicates a change in trend from the downswing, which is bullish. I expect the shares to test prior highs in the $317 in the coming weeks.

Chart courtesy of stockcharts ( click to enlarge )

LDK - Closed at $40.97, up $2.17. Range was $38.03 to $41.71. The stock had a good day today, along with the other Solar stocks. The stock closed above its 200 DMA ($40). Looking at the technical chart, the RSI is now turning back up, and pulling away from the 50 mark. Unfortunately, despite the stock’s positive day, the MACD continued to decline, but I think with more two positive days the stock should cure that. For tomorrow, I would like to see the 200 DMA hold intra-day. Stay tuned on it.

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 day !!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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