Solar Stock Picks: Yingli Green Energy, Renesola And China Sunergy

Chart courtesy of stockcharts ( click to enlarge )

Yingli Green Energy Holding Company Limited (YGE) is a vertically integrated photovoltaic (PV) product manufacturer in China. The stock is starting to show signs of acumulation with high volume on upside days and low on downside days. The technical daily chart shows the stock is in a short term bull market rally with MACD on top of signal line and K line on top of D line. The near-term outlook would depend on the price movement in the next few days. A close above $12.65 would impart bullishness and would help the stock move to the 13-15 area. A drop below 11.00 would have negative implications that would push the stock down to the 10-9.52 range. The stock might test $15 level in the short term if it is able to sustain above $11 .

Chart courtesy of stockcharts ( click to enlarge )

China Sunergy (CSUN) has a bullish looking stock chart, price broke out from the horizontal resistance mark around 4 share Wednesday on a respectable volume. The stock is displaying upside momentum and is poised to move higher from these levels. The pullback of today is minimal. Trending indicators still showing positive signals.

Chart courtesy of stockcharts ( click to enlarge )

ReneSola (SOL) - I have followed this stock for while and over the last weeks I never seen so many buyers purchasing the stock. The volume over the recent days has dramatically increased. There are some days when the normal average volume is reached in the first two hours of trading, which mean someone is accumulating a huge amount of shares for the coming months. The On the balance indicator shows exactly this situation. Probably the turning point for solar stocks is getting clearer and many people decided to readjust its own portfolios with some of the best players for the coming months. With Oil moving up again, the appetite to buy solar stocks will be on the priorities of many fund managers……it’s my guess. I bet on Renesola for the short-term and medium term.

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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