Solar Reversal ?

Solar Stocks started last week with a strong bullish run, with a technical short-term swing buy signal, but the winning streak seems to be over today, with most solar stocks in the negative territory.

Sun Power Corporation and Suntech Power Holdings Co. are the perfect examples for today's charts.
SPWRA touched a price resistance around $33 and seems to be pointing down for the short-term.


STP backed away form the 50day moving average so watch out for a possible support near the 200MA or $14


Tomorrow we will get the confirmation, if the market keeps heading down, or if it's just another Bear Trap. Intel's earnings today can make a lot of difference.

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

posted by Ertai at 10:33 AM