Archive for March, 2011

March 31, 2011

STP – Inverse Head n Shoulder

Take a look at STP Suntech Power Holdings Inc’s chart.  The first thing you’ll notice is the inverse head and shoulders which is setting up nicely and almost completing the last shoulder.  Another favorite of my is the Three White Soldiers.  After a nice decline, this set up leans toward a good trend.  But as noted on the chart, let’s wait for the break past the 9.90 area.

March 31, 2011

ABAT Reminder and CE Scan Clean Up

With ABAT’s nose dive comes my reminder of refining the Clean Energy Index that I run my scans on.   With that, I will be removing stocks below $5 from my reviews.  This removes the following companies:

Advanced Analogic Technologies Inc
Advanced Battery Technologies,
Active Power, Inc.
Baldor Electric Co
Ballard Power Systems Inc.
Broadwind Energy
Capstone Turbine Corporation
Emcore Corporation
Energy Conversion Dev
Fuelcell Energy, Inc.
Ener1
Satcon Technology
Solarfun Power Holdings Co.
Valence Technology, Inc.

If you’re unaware of what ABAT is experiencing, take a look at this article:

The Rosen Law Firm Announces Investigation of Securities Claims Against Advanced Battery Technologies — ABAT

With some of the more established stocks, I don’t really let statement scandals worry me.  It never surprises me.  At least with the heavier stocks, there’s room for recovery.

March 31, 2011

MEMC’s Spinning White Top – 13.10

As previously mentioned, WFR is trading at the 13.10 resistance.  A spinning white top confirms the need to hold before taking any action.   Keep an eye on the 50-day at is makes its way across the other MAs.  However, note the 10-day’s move below the 13-day despite bull action.   This brings up the reminder that there is a February gap to fill.

 

 

 

 

 

 

 

 

 

 

 

 

March 28, 2011

MEMC Channel and Wafers

Take a look at MEMC, ticker WFR.  There are a couple of things that pique my interest.  First off is the strong upward channel that the stock is moving in.  Next, you’ll note that the stock is also in between support and resistance with a 1 point range, but I suspect that the WFR reversal will meet resistance.  This is not a big concern as we still have both the bottom of the channel and the support at 12.   Also worth mentioning are the 50-day crosses.  Let’s keep an eye on the next cross in progress, but do not enter the trade until the resistance is broken and the PSAR is surpassed.

 

The thing to note about MEMC is their focus on monocrystalline silicon processes versus polycrystalline.  This is only a personal opinion, but I believe that as the market continues to drive down the prices associated with solar applications, we’ll soon see a trend where companies will opt to use pure and efficient silicon rather than hybrids or poly’s since price pressures will ease a bit.   Remember, aside from innovative applications, the solar industry aims to increase efficiency and to date, polycrystalline will not provide the efficiency of monocrystalline.  I would like to follow the industry to see how the two processes evolve.  For now, MEMC and its high volume monocrystalline technology is smart solar.