Stock Picks For Wednesday: Trian Solar And Evergreen Solar

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

Trian Solar (TSL) has been selling off the past week, but looks like it finally found a bottom in the short-term. Today the stock closed positive for the first time in over a week. If TSL can break through Tuesday’s high of $25.68, we should see heavy buying come and it will be a great buy here. Although this trend is encouraging, the near-term outlook stays cautious till the stock closes conclusively above this level on heavy volume. Bulls could remain invested with a stop loss at $23.18.

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

Another solid session for Evergreen Solar (ESLR). The continued strong volume on upside moves indicates more than just short covering. I expect another rally soon. The momentum clearly favors the bulls. The resistance level for the stock is now $2.68, which was today’s high. Support remains in the 2.20-2.38 range. The stock has room to run, so watch it closely on Wednesday.

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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Comment by solar panels

2009-06-16 22:49:18

I have some friends that are sticking to trina solar stocks.I hope trina solar won’t let them down.

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