Hot Solar stocks to watch next week : Evergreen Solar , First Solar and Spire Corporation
Oneday after to have reached its 200-day moving average, the stock pulledback on lower volume. ESLR held up well above the breakout area, whichis a good sign for an upcoming move. The stock showed a lot of strengthagain on Friday, but the stock could not break resistance. I still likeEvergreen Solar and expect to see another round of buying. Technicallyspeaking, the stock broke out the major resistance last week on heavyvolume confirmation indicating that this breakout is more likely to bereal. Money flow has trended up well since last week. In addition theMACD indicator is above its signal line and is indicating furtherstrength. The daily chart of ESLR suggests a strong confidence instock, a clear uptrend momentum. Honestly speaking, there is a lot ofupside potential in this stock, which makes it worth watching for thenext few days. Keep watching the stock and expect to see another upsidemove soon.
FSLRtried 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 throughresistance, expect to see heavy volume as traders drive the stockhigher. First Solar can be a fast moving stock, so watch it veryclosely next week.
Thestock continued to rally higher in the last week. The upward momentumseems to be slowing down as the stock hit critical resistance level.SPIR has tried to breakout the past three sessions, and was one of thefew positive solar stocks on Friday. Resistance for the breakout moveis $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 !!!
Charts courtesy of www.stockcharts.com ( click to enlarge )