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Tuesday, December 18, 2007 

Solar stocks in focus !!

No matter what people say and what people think about the valuations of Solar Stocks. People are still playing on the long side in this hottest sector, even when many investors discuss the high risk involved in this sector, due to the exorbitant valuations in general of stocks. Today, Lehman raises targets on WFR, STP and JASO. Lehman revised their targets on STP from $80 to $100, MEMC from $90 to $110 and JASO from $65 to $80. Solar energy is seen as the unique and visible alternative to current resources, so it is natural all this noise around the companies that could best succeeds in this market. Check below the technical analyst on above stocks, after today session.

Chart courtesy of stockcharts

JASO is setting up nicely to break into all time highs. The stock is in a strong bull market with MACD on top of signal and K line on top of D line, both showing buy signal. Although RSI is showing the stock is near to reach overbought conditions, however it is not yet the time to leave as the stock may continue to go up. Wait for a confirmation to take some profits.

Chart courtesy of stockcharts

Suntech Power Holding shares ended the session below its 13 dma, closing at $78.05. In general this is a signal of some weakness on stock. We should see a small pull back till $75 area, MACD and RSI are also showing some signs of weakness.

Chart courtesy of stockcharts

WFR setup nicely last two weeks and is looking like it will breakout over $88.62 soon, so put her 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 example.

That's All. Have a great evening !!!


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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.

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