Chinese solar stocks shine

Seven out of the eight U.S. listed Chinese stocks made it to the overbought screen Thursday morning. Gains for the sector look limited from here as LDK Solar (NYSE:LDK), ReneSola Ltd. (NYSE:SOL) and Solarfun Power (NASDAQ:SOLF) have approached theoretical highs. Suntech Power (NYSE:STP), Trina Solar (NYSE:TSL) look better from a technical point of view but again, advance of Canadian Solar (NASDAQ:CSIQ) and China Sunergy (NASDAQ:CSUN) look excessive compared to the rest of the sector.
...
Back to solar stocks: high oil price helps alternative energy plays such as solar, wind and hydro power. Solar stocks look good based on fundamentals as well after hitting a bottom in the middle of 2009. Shipments have dramatically increased while margins have stabilized. JA Solar (NASDAQ:JASO) has just raised 2010 Q1 shipment guidance. Four solar stocks out of the total eight reported revenue and earnings growth for the last quarterer of 2009.

Labels: China, China Sunenergy, CSUN, LDK, ReneSola, SOL, Solar Stocks, STP, Suntech Power

posted by Ertai at 7:52 AM