Solar Stock Picks For Next Week : Evergreen Solar , First Solar And Spire Corporation

Chart courtesy of www.stockcharts.com ( click to enlarge )

Evergreen Solar (ESLR) - One day after to have reached its 200-day moving average, the stock pulled back on lower volume. ESLR held up well above the breakout area, which is a good sign for an upcoming move. The stock showed a lot of strength again on Friday, but the stock could not break resistance. I still like Evergreen Solar and expect to see another round of buying. Technically speaking, the stock broke out the major resistance last week on heavy volume confirmation indicating that this breakout is more likely to be real. Money flow has trended up well since last week. In addition the MACD indicator is above its signal line and is indicating further strength. The daily chart of ESLR suggests a strong confidence in stock, a clear uptrend momentum. Honestly speaking, there is a lot of upside potential in this stock, which makes it worth watching for the next few days. Keep watching the stock and expect to see another upside move soon.

Chart courtesy of www.stockcharts.com ( click to enlarge )

First Solar (FSLR) tried to break down on Friday, but buyers came in to support the stock, as it closed a few cents below highs of the day. Resistance stays at $187.50, which was Thursday’s high of the day. Once FSLR breaks through resistance, expect to see heavy volume as traders drive the stock higher. First Solar can be a fast moving stock, so watch it very closely next week.

Chart courtesy of www.stockcharts.com ( click to enlarge )

Spire Corporation (SPIR) The stock continued to rally higher in the last week. The upward momentum seems to be slowing down as the stock hit critical resistance level. SPIR has tried to breakout the past three sessions, and was one of the few positive solar stocks on Friday. Resistance for the breakout move is $7.52. SPIR is a fast moving stock, so watch it closely next week. The stock wants to breakout, so keep it on your radar.

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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