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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 !!


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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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