-Financial Tools Futures Market--TRADE IDEAS-- OPTION ALERTS -BENZINGA PRO-

« Home | Stocks to watch Wednesday- Texas Instruments and C... » | Stocks to watch Tuesday - Medis Technologies and R... » | Stocks to watch next week - Ascent Solar Technolog... » | Investors more confident about stocks » | Hot stocks for Friday - Canadian Solar, China Sune... » | Stocks to watch Thursday - Ciena , JOY Global and ... » | Hot stocks for Wednesday - Cree and Suntech Power ... » | Hot stocks for Tuesday - Ciena, Rambus and St. Jud... » | Stocks to keep a look out for next week - Noble Co... » | Solar energy will be 25% of world electricity by 2050 » 

Wednesday, June 10, 2009 

Hot stock for tomorrow - Evergreen Solar

All investors dream in finding a stock that could rise three-fold or more and to get long the name before it happens. It's our dream !! but finding these explosive stocks isn’t always an easy task. It takes a great deal of research to find the right stock in the right industry that is growing fast and has the potential to make such a large move. Recently, I analyzed some solar stocks that made a huge move, including Renesolar ( SOL) , Canadian Solar (CSIQ) and LDK Solar ( LDK ). Now is the time to analyse one that can follow the same way based in the technical chart, it's name is Evergreen Solar (ESLR).

Chart courtesy of www.stockcharts.com ( click to enlarge )

The technical chart is showing that the stock is on a bounce back rally after it lost more than 50% of its value since the start of the year. RSI is turning up and is now at 60 levels. MACD indicator is rising above 0 also indicating a buy, and KD line shows the stock is on the positive swing. OBV is beginning to turn around which suggests the stock is no longer being sold off. In my opinion, this stock has been undervalued relative to the sector. The growth in the solar sector is now surging like a volcano. Investors who find the gems in this sector have the potential to be awarded with large gains. The stock needs to break Wednesday’s high of $2.54 to expect a strong rally at this point. Evergreen looks very much like an oversold company that has seen its bottom and is awaiting confirmation before breaking out to higher prices.

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 Folks. See you tomorrow !!!



Bookmark and Share

How the fundamentals are strong for this company? Because one can't blindly enter into to buy this stock on the basis of technical charts alone.

Post a Comment

About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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.

  • Benzinga.com supporter

    Benzinga.com supporter


      Enter your email address:

      Delivered by FeedBurner

      Subscribe my feed :

    Support AC

    • Support AC Investor Blog, Donate with PayPal


      Interested in advertising on AC Investor Blog ? Click Here


    Site Information

    Stock Market Blogroll

    Friends BLOGROLL


Powered by Blogger
and Blogger Templates

Add to Google