Following the Sun and the Money
- Posted by Greg Harmon
- on April 22nd, 2013
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 the pulled back to a higher low and is not approaching the 4.20 resistance area again with a RSI that is bullish and rising 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 is 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, 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.
Join the Dragonfly Capital Views Premium Membership
Its Time For a Sale at Dragonfly Capital!
Last Day of the Sale! End tonight! The Annual subscription rate for the Premium Dragonfly Capital Views Service, will be cut by 20% to $600. That is nearly 45% off of the monthly rate for a year! Follow this link to start your subscription, with free 7 day trial, today.
Want to learn more about Dragonfly Capital Views?
Dragonfly Capital Views Performance Through April 2013 Expiry
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Top Trade Ideas for the Week of November 24, 2014: The Rest
- Top Trade Ideas for the Week of November 24, 2014: The Rest Premium
- Top Trade Ideas for the Week of November 24, 2014: The Best
- SPY Trends and Influencers November 22, 2014
- Macro Week in Review/Preview November 21, 2014
- Wheat for Breakfast
- Watching the Cup and Handle in Hewlett-Packard
- Premium Earnings 11-20-14
- Spotting Sharks in Corn & Oil
- Positioning to Buy Disney on a Dip