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Thursday, July 30, 2009 

Hot stocks for Friday - First Solar and Evergreen Solar

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

ESLR is falling in the after-hours session after reported a wider quarterly net loss on lower selling prices and rising start-up costs for production facilities. The second-quarter net loss was $20.3 million, or 11 cents per share, compared with a net loss of $8.9 million, or 8 cents per share, a year ago. From the chart, we can see the stock has crashed 25 per cent from its recent peak of $2.96 and has been rebounding since. At this stage, the price movement has been marked by a high degree of volatility. The near-term outlook would depend on the price movement in the next few days. A close above $2.43 would impart bullishness and would help the stock move to the Rs 2.9-3 band. A drop below 2.13 would have negative implications that would push the stock down to the Rs 1.9-2.0 range. Remain invested with a stop loss at $2.13.

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

FSLR - The company released better then expected numbers after Thursday’s close, however the stock lost some momentum in the after hours trading. If this sector shows strength on Friday, I will buy FSLR above Thursday’s high of 175.88. If the stock breaks this level on a close basis, we should see it pause at $187.50. On the contrary, a close below 167.84 would have bearish implications and would push the stock to the 160-150 range.

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 !!

AC

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Thursday, July 23, 2009 

2 stocks to watch tomorrow - Evergreen Solar and SunPower Corporation

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

ESLR has been drifting lower since making a high of 2.96 in June. At this stage, the share price of ESLR appears to be moving sideway, with a slight upward bias. While the share price is slowly moving up by the upside is blocked by a strong resistance around 2.4. The recent increase in trading volume and rising OBV suggests buyers are accumulating stock. A breakout above $2.40 would constitute a technical entry for the short term trader looking for a quick trade. Based on steady improvement in its financial performance, I believe ESLR is a good stock for long-term investing.

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

SPWRA released better then expected numbers after Thursday’s close, which should lead the Solar sector bouncing on Friday. The stock is blowing up in after hours trading !! Looking at the daily chart it displays a downtrend line broken to the upside with a nice volume. In addition, KD line shows positive signals as K line is rising on top over D line, and RSI continue moving up. OBV is beginning to turn around which suggests the stock is no longer being sold off. Stock as a major resistance at $30.46. I suspect the stock may continue to appreciate over the coming weeks after SPWRA surprising quarterly results that blew away analysts expectation.

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. See you tomorrow !!!

AC

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Tuesday, June 16, 2009 

Trade Ideas for Wednesday - Trian Solar and Evergreen Solar

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

TSL has been selling off the past week, but looks like it finally found a bottom in the short-term. Today the stock closed positive for the first time in over a week. If TSL can break through Tuesday’s high of $25.68, we should see heavy buying come and it will be a great buy here. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above this level on heavy volume. Bulls could remain invested with a stop loss at $23.18.

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

Another solid session for ESLR. The continued strong volume on upside moves indicates more than just short covering. I expect another rally soon. The momentum clearly favors the bulls. The resistance level for the stock is now $2.68, which was today’s high. Support remains in the 2.20-2.38 range. The stock has room to run, so watch it closely on Wednesday.

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 !!!

AC

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Saturday, June 13, 2009 

Hot Solar stocks to watch next week : Evergreen Solar , First Solar and Spire Corporation

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

One day after to have reached its 200-day moving average, the stock pulled back on lower volume. ESLR held up well above the breakout area, which is a good sign for an upcoming move. The stock showed a lot of strength again on Friday, but the stock could not break resistance. I still like Evergreen Solar and expect to see another round of buying. Technically speaking, the stock broke out the major resistance last week on heavy volume confirmation indicating that this breakout is more likely to be real. Money flow has trended up well since last week. In addition the MACD indicator is above its signal line and is indicating further strength. The daily chart of ESLR suggests a strong confidence in stock, a clear uptrend momentum. Honestly speaking, there is a lot of upside potential in this stock, which makes it worth watching for the next few days. Keep watching the stock and expect to see another upside move soon.

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

FSLR tried to break down on Friday, but buyers came in to support the stock, as it closed a few cents below highs of the day. Resistance stays at $187.50, which was Thursday’s high of the day. Once FSLR breaks through resistance, expect to see heavy volume as traders drive the stock higher. First Solar can be a fast moving stock, so watch it very closely next week.

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

The stock continued to rally higher in the last week. The upward momentum seems to be slowing down as the stock hit critical resistance level. SPIR has tried to breakout the past three sessions, and was one of the few positive solar stocks on Friday. Resistance for the breakout move is $7.52. SPIR is a fast moving stock, so watch it closely next week. The stock wants to breakout, so keep it on your radar.

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. Have a nice weekend !!!

AC

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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 !!!

AC

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Saturday, April 18, 2009 

Hot stocks to watch next week - Level 3 Communications, Ciena, Evergreen , JDS Uniphase

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

JDSU has made an awesome move on Friday breaking out of an ascending triangle patterns with volume backed confirmation. I went long at 4.42 as its quite possible we should see a short term move near $5.30/share. The technical chart shows bullish sign with K line on top of D line and MACD on top of signal line. At the moment, there is no reason to sell the stock.

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

ESLR - Although, Friday’s bearish move suggests a possible halt in price and consolidation in play. One thing is for sure, and that is the fact that this stock looks attractive at these prices. The stock looks pretty good on the daily chart holding above it's 20 and 50 day moving averages. The 20 day sma also just crossed above the 50 day sma which is another positive bullish signal I use. A successful breakout over 2.50 would have an estimated target of $3.

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

CIEN broke its major resistance yesterday and continues to work its way higher. From the technical chart both MACD and KD are showing bullish sign as MACD is rising near 0 while KD is crossing up. The stock might test $10.35 level in the short term if it is able to sustain above $9.10.

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

LVLT - Looking at the daily technical chart this stock looks set up for another potential major run. Friday price rallied 20% breaking out of its short term consolidation pattern. I think its very possible we could see this move to 1.50 - 1.65 in the near term.

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 on Monday !!!

AC

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Thursday, April 16, 2009 

Hot stocks for tomorrow - Google and Evergreen Solar

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

ESLR - For the short term, it is consolidating inside a symmetrical triangle with resistance at 2.37. Breakout point is 2.4. Target price is 3.15. MACD is currently bullish and RSI is just halfway from being overbought. Average volume is around 4M, a good breakout volume is around 6M shares. Sideways consolidation is actually good for the stock at this point as a breather from the recent upward move.

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

Google shares gained ground in after hours after reporting better than expected results. This could be a positive factor for the market tomorrow. The Mountain View, Calif.-based Internet giant said Thursday its first-quarter net income rose to $1.4 billion, or $4.49 a share, from $1.3 billion, or $4.12 a share in the same period a year earlier. Google said net revenue for the period ended in March came in at $4.07 billion. Excluding special items, Google said earnings for the quarter were $5.16 a share. Looking at the technical daily chart the stock broke out a recent resistance mark and todays move also broke its short term ascending triangle. I think its very possible we could see this move to 450 - 460 in the near term.

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 !!!

AC

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Tuesday, February 10, 2009 

Trade Ideas for Tuesday - ESLR and BIG

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

BIG - The stock closed at 15.21 on Monday, up 96 cents points for the day. The technical indicators are looking better now for the stock. BIG has broken the upper channel line of the short-term channel and there was a positive divergence between price and its RSI indicator. The ADX is also decreasing showing that the Bearish trend is weakening. The +DI is now above the –DI another bullish sign. Technically the stock is painting a “Bullish” picture.

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

ESLR - The technical daily chart looks really bad. Today drop was on heavy volume again. The MACD indicator is way below its signal line, indicating a sell signal. RSI is in high versold territory but stocks that are in a downtrend will stay in oversold region for extended duration before rebounding. With fundamentals weak and technical chart not showing any sign of rebound, it is best to avoid the stock until a clearer picture emerges.

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 !!!

AC

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Wednesday, December 17, 2008 

Solar Stocks Shine - LDK, ESLR, FSLR

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

FSLR - The stock closed above its 50-day moving average today on heavy volume for the first time since early September, which is usually a good signal for the short term. The stock is now on the uptrend and with K line now on top of D line First Solar shares have the chance to go much higher from here. If 126.72 holds, next resistance is 160.

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

ESLR - The shares have been on a small rally recently with K line on top over D line. The stock overall is still weak with 50 day moving average now below 200 day moving average. The next upside price objective for the bulls is producing a close above technical resistance at $3.12 ( 50 DMA ). Let's keep an eye on ESLR for a possible breakout over this level.

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

LDK opened weak and closed strong to form a bullish engulfing pattern. A break above $15 turns the trend Bullish. The shares have been on a rise recently as K line is on top of D line indicating a buy signal. Now with stock back above the 20 day moving averagethe stock may see more up side with MACD also rising.

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. See you tomorrow !!

AC

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Wednesday, November 26, 2008 

Stock Picks and Trade Ideas for Friday - NOVL, RFMD, ESLR

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

ESLR made a strong upside reversal today. The technical chart above suggests that stock might find now resistance at $2.98. Only a close above this level would suggest further upside. Remain invested with a stop loss at $2.50.

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

RFMD - Technical chart shows bullish sign with K line on top of D line and MACD on top of signal line. A decisive break of the 20-day moving average at $1.49 on heavy volume, and, we could be looking at RFMD testing its resistance level at $1.50 and $1.75 respectively.

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

NOVL - Over the last 52 weeks the stock has ranged from a low of $2.49 to a high of $7.59. Technicals have turned bullish signaling sideways to higher prices possible in the near term. Next targets for the stock are $4.61 ( 50 DMA ) and $4.86. Only a close above $4.86 reverses the current downtrend. Let's keep an eye 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. See you tomorrow !!

AC

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Thursday, September 25, 2008 

Stock Picks and Trade Ideas for Thursday - CIEN, BOOM, BIDU, ESLR

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

ESLR could move to the $6.80-$6.86 range in the near term. Sell a portion of the holdings if the stock faces resistance at this zone. Hold with a stop-loss at $5.83.

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

BIDU is trading close to the resistance level at the Rs $280-$281 range. A close above this range would impart strength and the stock could move easily to $305-$310 subsequently. The trend would turn bearish if the share price closes below $260.70. A drop below $252 would have major negative implications. Remain invested with a stop-loss at $252.01. Stay tuned on BIDU.

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

BOOM - Buy on a close above $29.27 ( 50 day moving average ) with a stop-loss at $27.81 and a price target of $31.50.

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

CIEN - It looks like the buyers are finally aware of the buying opportunity at this level after the big drop occured early this month. The technical chart shows this is just the beginning of the rally as K line has just crossed on top over D line. In addition MACD back again above the sell line, this is a good indication that the stock could be back to bull market soon.

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. See you tomorrow !!!

AC

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Monday, August 04, 2008 

Stock Picks and Trade Ideas for Tuesday - TRN, ESLR, TTEK, SBUX

Chart courtesy of stockcharts ( click to enlarge )

SBUX - The stock closed below its 20-day simple moving average at $14.49 again. Generally this is a bearish indication. In this new downtrend, the stock may find support at $14 if there is a spurt in volume in the coming sessions. If Starbucks breaks below $14, then we may see this stock going down till $13.33 again. The short-term outlook for the stock is bearish.

Chart courtesy of stockcharts ( click to enlarge )

TTEK - The stock broke resistance with a high volume move on Thursday. Increased volume at the break-out supports the bullish trend. Buy the stock in dips with stop loss at $27.32.

Chart courtesy of stockcharts ( click to enlarge )

ESLR - The stock has formed a descending traingle pattern, which is a bearish pattern. If the pattern breaks the support at $8.45, then in the short term we can see a downward movement till $8.

Chart courtesy of stockcharts ( click to enlarge )

TRN - The stock is facing continuous resistance at $39. The daily technical chart shows positive sign as the stock is now trading above 50 day moving average with KD rising and MACD now above 0. Recent surge may spur profit taking but for the long term the technical is looking good. TRN is one of my favorite stocks on the wind sector.

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. See you Tomorrow !!!

AC

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Tuesday, June 24, 2008 

Stock Picks and Trade Ideas for Wednesday - ESLR, NOK, LVLT, LEH

Chart courtesy of stockcharts ( click to enlarge )

LEH - Lehman shares rose today with other financial stocks, gaining more than 6% to $24.35. From the technical chart the stock looks weak as the stock is still trading below both 50 day and 200 day moving average with MACD below 0 indicating bear market. However, the surge today brought K line to near D line indicating that we can see a rally soon. Hold the stock with a stop at $22.34.

Chart courtesy of stockcharts ( click to enlarge )

LVLT - Sell the stock only when it declines below its 200-day moving average.

Chart courtesy of stockcharts ( click to enlarge )

NOK - Although the moving average shows weakness according to the daily chart above as the stock is still trading both 50 day and 200 day moving average with both moving average heading downward, there are other technical indicators showing strength. One of these indicators is the stochastics in which K line has rose on top over D line, generally a buy signal. Buy the stock only when it moves beyond the resistance level of $25.

Chart courtesy of stockcharts ( click to enlarge )

ESLR - The stock is losing momentum and the volumes are also declining. Fresh long position should be initiated only when the stock moves above $12.64.

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. See you tomorrow !!!

AC

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Saturday, June 21, 2008 

Stock Picks and Trade Ideas for Next week - AAPL, RFMD, SNDK, ESLR, AMD, LDK

Chart courtesy of stockcharts ( click to enlarge )

LDK - The channel got busted early this month and anything below $35.35 will bring in two lower highs and two lower lows into the set up and that is going to be scary for Bulls. Further, falling MACD and KD, also indicates bearish trend. Looking closely at the moving averages both indicates neutral as the stock is now trading in between 50 day and 200 day moving average. Wait for the confirmation of the trend to follow. Buy point is when the stock breaks $41.44 ( 20 EMA ) and the sell point is when the stock closes below $35.35.

Chart courtesy of stockcharts ( click to enlarge )

AMD - We are a few points away from $6.71. So after all, we have two lower highs in the set up, which is a signal of continuation of the down trend. Now $7.25 is the resistance and any bounce towards it must be used to go short. On a short term basis, MACD and KD show bearish sign. The stock is now trading below 20 day moving average, which is generally a bearish indication. Also notice that the RSI is declining and does not paint a good picture for the stock.

Chart courtesy of stockcharts ( click to enlarge )

ESLR - Here is a closer look at yesterdays price action showing the failed attempt to stay above $12. A close below $11.50 will bring in further weakness.

Chart courtesy of stockcharts ( click to enlarge )

SNDK - On Friday Citi analyst Craig A. Ellis lowered his rating on SanDisk to "Hold" from "Buy" and cut his share price target to $27 from $35 late Thursday. The technical chart above shows that it is still to early to say that the downtrend has ended.

Chart courtesy of stockcharts ( click to enlarge )

AAPL - The stock closed below its 50- day EMA at $177.24 Friday. There could be downward bias toward $170. There is support at this level and only below here would threaten the downside extending down to the 200- day EMA at $162.07. However, only below this major support would cause a deeper pullback with next support at $144.

Chart courtesy of stockcharts ( click to enlarge )

RFMD - Not a pretty picture. On short-term basis still in downtrend mode and should find a nice support at $3.20. Keep an eye on that trendline.

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 weekend !!!

AC

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Wednesday, June 18, 2008 

Stock Picks and Trade Ideas for Thursday - CSIQ, ELN, BTU, ESLR, SIRI

Chart courtesy of stockcharts ( click to enlarge )

SIRI - The stock is in a down trend since December 2007. The pattern formed resembles a descending triangle formation. This is a bearish formation and indicates that the stock can move lower over the medium term. Consider a long position once it rallies past $2.72. Major support is now at $2.36.

Chart courtesy of stockcharts ( click to enlarge )

ESLR - Made a small move up in the flag pattern, which is holding at support. Volume dropped back below average to +4 million (average 7 million). Continuing to look for the break up. Buy point on ESLR is when it breaks above $10.48 on increased volume. Money flow has trended up well since last week. In additoin we can see that the relative index is starting to perk up, which supports the thesis for higher prices.

Chart courtesy of stockcharts ( click to enlarge )

BTU - This breakout on normal volume did not convince me yet. If you're long consider putting a stop back down below the breakout level.

Chart courtesy of stockcharts ( click to enlarge )

ELN failed to hit a new high, and is now falling back to test the prior breakout level at $28.

Chart courtesy of stockcharts ( click to enlarge )

CSIQ - Looking at the daily chart above, stock broke out $48.91 to new 52 week high with a huge volume above daily average. Technicaly chart shows the stock is still in a very strong bull market with MACD on top of signal line and 50 day moving average on top of 200 day moving average, so we should see the stock keep going strong for a while.

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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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 44 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.

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