Stock Picks For Wednesday: JA Solar, LDK Solar

Chart courtesy of stockcharts ( click to enlarge )

LDK Solar (LDK) breaks above the key resistance zone at 9.08 ( MA 13 ), signifying that a new short term uptrend is in place. Further rise is expected to 10.10 zone in next several days. Indicators are also showing signs of recovery. Near term support is now located at 8.2, as long as this level holds, I’d expect the uptrend to continue. Long-term investors may hold with a stop at 8.20.

Chart courtesy of stockcharts ( click to enlarge )

JA Solar (JASO) has a strong resistance at 3.21 ( MA 50 ) while short-term support exists at 2.80. My focus remains on the bullish reversal scenario showed by the last big white candle. This is usually considered bullish, as prices closed significantly higher than they opened. A break to the upside could trigger potential bullish momentum targeting 4.05 area. Stop-loss for long positions may be placed at 2.80.

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.

Subscribe by RSS Subscribe by Email