Hot stocks for Friday – First Solar (FSLR) and Evergreen Solar (ESLR)

Chart courtesy of ( click to enlarge )

ESLRis falling in the after-hours session after reported a wider quarterlynet loss on lower selling prices and rising start-up costs forproduction 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 8cents per share, a year ago. From the chart, we can see the stock hascrashed 25 per cent from its recent peak of $2.96 and has beenrebounding since. At this stage, the price movement has been marked bya high degree of volatility. The near-term outlook would depend on theprice movement in the next few days. A close above $2.43 would impartbullishness and would help the stock move to the Rs 2.9-3 band. A dropbelow 2.13 would have negative implications that would push the stockdown to the Rs 1.9-2.0 range. Remain invested with a stop loss at $2.13.

Chart courtesy of ( click to enlarge )

FSLR- The company released better then expected numbers after Thursday’sclose, however the stock lost some momentum in the after hours trading.If this sector shows strength on Friday, I will buy FSLR aboveThursday’s high of 175.88. If the stock breaks this level on a closebasis, we should see it pause at $187.50. On the contrary, a closebelow 167.84 would have bearish implications and would push the stockto 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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