Solar Stocks keep rising

After tomorrow's big rally, some Solar Stocks keep rising today, with a special focus on positive news from First Solar, Inc. (FSLR up 5%)

Shares in Norwegian solar energy equipment maker Renewable Energy Corp. (REC.OL) rise 3.7 percent and Germany's Q-Cells' (QCEG.DE) shares rise 2.0 percent after signs of a recovery in global demand for solar power lifted U.S. peers.

First Solar (FSLR.O) said on Tuesday it plans to build the world's largest solar plant in China, while Suntech Power Holding (STP.N) said global demand for solar power has improved substantially in the last month.

"First Solar's deal is lifting REC and the entire sector," one trader says, adding there is also talk about prices for solar wafers starting to stabilise after a precipitous drop this year.

Reuters

First Solar's Chart still looks good for mid-term Bullish moves, but lookout for a possible resistance around the $140-$150 area:

Labels: First Solar Inc, FSLR, QCE, REC, Renewable Energy Corp, Solar Stocks, STP

posted by Ertai at 10:26 AM