Following The Sun And The Money
Dragonfly Capital | Apr 22, 2013 01:37AM ET
Spring has sprung, and the weather is getting warmer. It feels good to go outside and feel the sun on your face. Especially if you caught the 40% move higher in First Solar, FSLR, two weeks ago. From the chart below it looks to be setting up for another move, and the Measured Move out of this consolidation would take it to about 53. A break lower of course could fall quite a bit though.
First Solar, FSLR
But First Solar is not the only Solar stock out there, and many of the others are setting up positively for a break to the upside. Take a look at these 3: Canadian Solar, CSIQ, JA Solar Holdings, JASO, and Jinkosolar, JKS.
Canadian Solar, CSIQ
Canadian Solar, CSIQ, pulled back from the run higher to 5, retracing about 61.8% of the move up. Since then, it has bounced higher and pulled back to a higher low. It is not approaching the 4.20 resistance area again with a bullish, rising RSI and a MACD that is also rising. A move over 4.20 has a target of 4.80. JA Solar Holdings, JASO
JA Solar Holdings, JASO. moved off of a bottom at 3.50 with strong move to the SMA jumble at 4.50. Getting knocked back there, it made a higher low and is starting to drift higher. The RSI and MACD also support an upside push. On a move over 4.50, it has a target of 5 and then 6. Jinkosolar, JKS
Jinkosolar, JKS, found a bottom at 4 to start the month. Jumping to 6 from there, it has since pulled back to a higher low at 4.80 and is turning back up with support from a rising RSI and MACD. The Measured Move higher takes it to 6.80.
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