Solar Stock Picks For Thursday: ReneSola And JA Solar

Chart courtesy of stockcharts ( click to enlarge )

ReneSola (SOL) is a manufacturer of solar wafers, which are thin sheets of crystalline silicon material primarily used in the production of solar cells. The company is profitable and is growing at a rapid clip. I bought ReneSola this week in the range of 3.72 -4.15, and I expect the stock will continue to move up strongly. From a technical perspective, the stock finally broke out above $4 a share today with a strong volume expansion. It has a short-term target of 4.30 and it could move a lot further given a very strong short-term bullish trend. The technical chart shows the stock is now back to uptrend and with K line above D line 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 signal and is currently above the 0 line. I think the stock will be heading higher. Technically Bullish.

Chart courtesy of stockcharts ( click to enlarge )

JA Solar (JASO) closed at 4.25 on Wednesday, up 0.26 cents points for the day, reconfirming the new uptrend after the recent break above the major resistance on expanding volume. The technical indicators are looking better for the stock. The technical chart shows a very bullish sign as the stock is back on top of 13 day moving average. In addition K line is 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 is able to cross it and sustain above it, then it might go to $5.60 ( 200 EMA ). 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.

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