Solar Stocks Interim Update; Thursday 2-17-2011
Solar Stocks and Market Commentary with J Peter Lynch
Point Roberts, South Salem, New York – February 18, 2011 - Investorideas.com, a leader in cleantech stock research, releases new solar stocks commentary from solar contributor, J. Peter Lynch.
Solar Stocks Commentary with J Peter Lynch -
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Solar Stocks Interim Update; Thursday 2-17-2011
J Peter Lynch
Solar Stocks Summary
Note: At this time there is a general market comment advising caution at this time. It is not a time to be initiating new positions.
The overall market is currently in a very overbought condition, and a number of key technical indicators are also very overbought.
Not only is the market very overbought short-term, but it is extremely overbought intermediate-term above its long-term 200-day moving average, which I have mentioned in the last couple of updates. It is important to keep in mind that the more serious corrections have usually begun over the years from similar overbought levels above the 200 day average.
Individual Stock Comments
Canadian Solar (CSIQ) has shown an improvement in relative strength – taking a first step toward an upgrade in rating.
J A Solar Holdings (JASO) has closed up above $8.25 indicating that it has regained its upside strength
SolarFun (SOLF) has completed a merger and has changed its name to: Hanwha Solarone Co. Ltd and its symbol to HSOL. However, it is still the weakest of our solar seven stocks and would break a critical longer term support level with a daily close below $8.00.
Sunpower (SPWRA) has also shown improvement in relative strength – taking another step toward an upgrade in rating.
Mr. Lynch has worked, for 34 years as a Wall Street security analyst, an independent security analyst an investment banker and private investor in small emerging technology companies. He has been actively involved in following developments in the renewable energy sector since 1977 and is regarded as an expert in this field. He was the contributing editor for 17 years to the Photovoltaic Insider Report, the leading publication in PV that was directed at industrial subscribers, such as major energy companies, utilities and governments around the world. He is currently a private investor and advisor to a number of companies. He can be reached via e-mail at: SOLARJPL@aol.com. Please visit his website for the promotion of solar energy - www.sunseries.net
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Disclaimer: The views and opinions expressed in the research published are those of the individual companies and writers and not necessarily those of Investorideas.com® or any of the industry sector portals. At the time of publication, writers may hold positions in the stocks or companies mentioned.
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