Suntech Power Holdings Co. (STP) Goes up, and then higher

Investors and Analysts started getting very Bearish, right after the market does another relative bottom, so the Market does the opposite and STP gaps up 6% yesterday.

This is the perfect exemple of buy the bad news, sell the bad rumor, and this is the market buying, or covering the shorts, with the bad news all over the internet.

Suntech Power will probably gap up around 3% today, the chart looks good for short-term Bulls.



More in the news, now positive for Suntech Power and negative for SunPower Corp. (SPWRA)
SunPower Losing California Sales to Sharp, Suntech

SunPower Corp., the largest supplier of solar power panels in California, is losing market share to China’s Suntech Power Holdings Co. and Japan’s Sharp Corp. as developers seek cheaper modules, says Pacific Crest Securities.

Sharp has won 28.5 megawatts of solar power projects this year under the California Solar Initiative, topping SunPower’s 26.2 megawatts. Last year, developers chose SunPower for 51.9 megawatts, almost double Sharp’s 27.5 megawatts, said Mark Bachman, an analyst at Portland, Oregon-based Pacific Crest. Suntech orders year-to-date more than tripled to 15.7 megawatts.

“We expect SunPower to continue to lose share as investors are not willing to pay the premium prices for its commodity product,” Bachman said today in a note to clients. Sharp, Suntech and Germany’s Solarworld AG “are best positioned for market share wins in the U.S.”

Source

Labels: Sharp, solar charts, Solar Stocks, solarstocks, SPWRA, STP, SunPower Corp, Suntech Power

posted by Ertai at 8:01 AM