Solar Stocks To Watch Friday - Trina Solar, ReneSola

Chart courtesy of stockcharts ( click to enlarge )

ReneSola (SOL) - The stock tried to move to higher price levels (4.50 ) , but was not accompanied by volume so it dropped today. According to the technical chart above no pattern has emerged yet, but what SOL needs is additional volume in its upward move for it to reach the previous high. If more volume does not come in, we could see a side to downward move. For now, a bounce from the support might be forthcoming. However, there is still a big possibility of price moving below 4. Time to stay on the sideline.

Chart courtesy of stockcharts ( click to enlarge )

Trina Solar (TSL) - Trina Solar shares were down more than 12% today to $16.85$. Today’s ample ranging day ( 20.10-16.55 ) associated to the negative divergence of Stochastic indicates that lower prices should be ahead. Stochastic has turned negative and RSI heading down from overbought. Unless there is more good news in the days ahead from Trina Solar , the stock should move to the downside over the next few days to retest its previous resistance line at $14.38.

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.

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