Solar stocks to watch: ReneSola (SOL) and JA Solar (JASO)
ReneSola is a manufacturer of solar wafers, which are thin sheets ofcrystalline silicon material primarily used in the production of solarcells. The company is profitable and is growing at a rapid clip. Ibought ReneSolar this week in the range of 3.72 -4.15, and I expect thestock will continue to move up strongly. From a technical perspective,the stock finally broke out above $4 a share today with a strong volumeexpansion. It has a short-term target of 4.30 and it could move a lotfurther given a very strong short-term bullish trend. The technicalchart shows the stock is now back to uptrend and with K line above Dline and RSI above 50 we may see more upside. The +DI is also above the–DI another bullish sign. In addition, MACD has generated a buy signaland is currently above the 0 line. I think the stock will be headinghigher. Technically Bullish.
JASOclosed at 4.25 on Wednesday, up 0.26 cents points for the day,reconfirming the new uptrend after the recent break above the majorresistance on expanding volume. The technical indicators are lookingbetter for the stock. The technical chart shows a very bullish sign asthe stock is back on top of 13 day moving average. In addition K lineis still above D line and MACD above 0, showing bull market. For now,expect a run up to next resistance area around $4.80. If the stock isable to cross it and sustain above it, then it might go to $5.60 ( 200EMA ). Support lies around $3.64. Technically Bullish.
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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