Solar Stocks and MA50

Have you been on the same emotional roller coaster ride lately that I’ve been on?  You know, the one where you think you’ve figured out how to swing trade solar stocks just to get your ass kicked the next day as it spirals down to your stop loss.  The ride wasn’t even long enough to make you vomit.  Don’t get me wrong, the nice, smooth climb up from March to May was quite exhilarating with few twists and turns along the way. However, once we reached the summit, the laws of gravity quickly pulled us down through numerous hair-pin turns, drops, and loops.

Is the downward spiral finally over…at least temporarily? Ten trading days ago, most solar stocks found support and have been trending up ever since. Not a lot of attention has been made to this, but look at the daily charts from many in the industry and you’ll wish you had taken at least a small position in your favorite solar because the support was segment wide.

Now we’ve reached a new milestone. Ten days ago it was was industry wide support. Now we’re looking at resistance. More specifically, we’re looking at MA50 and a handful of solar plays banging against it WITH volume. Is it time to climb comfortably back in our seats for another smooth ride back up to May highs? Or, does big, bad MA50 have other ideas?

Here are my top MA50 resistance solar stocks that I’ll be watching Wednesday. I’ll likely pick my favorite to position long in if MA50 gets broken.

Check out these daily charts:

• Gotta start with FSLR since it is still the industry pulse..
• JASO
• SOLR
• STP
• SOLF – nice
• LDK
• ESLR
  

Tags: ESLR, FSLR, JASO, LDK, SOLF, SOLR, STP

Still Interested in Chinese Solar

Yeah, I know, solar and alternative energy stocks in general are not very sexy right now with all of the recessionary influences on this ‘pricey’ substitute to the status quo.  But, I still think solar is attractive beyond its positive environmental impact.   Chinese solar stocks in particular have captured my attention of late.

One would think with all of the negative articles surrounding the solar industry that it would be the last place you would want to put your money.  We have been, after all, in a recession all year and oil prices are WAAAY off their 2008 highs.  To the contrary.. Chinese solar stocks have been, in most part, very profitable. Check out the below chart of STP.   TSL has shot up 215% YTD,  and SOLF up 50%.

So why are Chinese solar stocks catching my attention?  Especially after not-so-hot earnings last week from SOL and JASO?
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Tags: CSIQ, FSLR, JASO, LDK, SOL, SOLF, STP, TSL, YGE

The Sun is on Fire!!!

Solar stocks have been on fire lately with the likes of LDK, DSTI, ESLR, and SOL all making huge moves over the last few days.  On Sunday, I posted that we may have a sunny week in solar stocks after healthy Friday moves from SOL, CSUN, and SPWRA.  I focused on 4 stocks that I hoped would make a move if solar continued upwards – SOLR, ESLR, FSLR, and LDK.  Well, 2 out of 4 broke out and broke out big – the other two are still trading sideways. Are they next?  Here are a few stocks I’m watching to follow the big moves we’ve seen from others:

• SOLR – still trading in a channel on very tight bollinger bands. 
  
• FSLR – still building on descending triangle.
• WFR – pulled back today, but has Full Sto and RSI14 support to go higher.

Congrats if you were part of the solar part this week.

Tags: CSUN, DSTI, ESLR, FSLR, LDK, SOL, SOLR, SPWRA, WFR

Sunny Week For Solar?

Friday was a big day for a large number of stocks in the solar sector – most notable being SOL, jumping up over 15% on what had already been a bullish few weeks after the $4.50 horizontal resistance breakout on June 1.

Others have joined the party, including CSUN, which broke through MA200 on Friday on strong volume.  A look at the daily shows lots of accumulation in this chart and many bullish indicators.  SPWRA executed a perfect breakout, as well, and looks destined to go for more (remember, this is just my opinion – do your own DD).

So, which solar stocks are setup the best to move if the trend continues?  Here are a few that showed up on my scans that I’ll be watching Monday:

• SOLR – consolidating under MA50 on narrowing bollinger bands.  I’ll watch for a move through $6.5 before I go long.
• ESLR – following the same pattern as SOLR. Horizontal resistance at $2.  I’m interested in volume moves above that.
• FSLR – Long above trendline resistance and short below horizontal support at 175
• LDK – Could go either way out of this triangle.

Tags: CSUN, ESLR, FSLR, LDK, SOL, SOLR, SPWRA

Solar Burned Out?

I haven’t been following solar much lately and I think that is a mistake.  We’re going to be talking about alternative energy for years to come and there will likely be good money to be had here.  For tonight, I’m going to take a quick look at some of the more interesting charts. Click on the ticker for my thoughts and annotated chart.  One theme that will stand out is that most are approaching strong levels of resistance.  My gut –  solar down first part of the week (hope I’m wrong).

• ESLR
• YGE
• JASO
• STP  - very strong since March. I think over bought temporarily and at resistance level – worth watching.
• CSIQ
• FSLR 

Tags: CSIQ, ESLR, FSLR, JASO, STP, YGE