Solar stocks have surged recently as better-than-expected quarterly results from Chinese solar manufacturers have signaled improving demand. Growing demands from China has seen manufacturers, such as JinkoSolar Holding Co. SunPower Corp. and Trina Solar Ltd., produce panels at full speed and are now also considering boosting capacity. “The solar industry was put into a bad, bad downturn, a horrendous margin environment,” said Maxim Group analyst Daniel Ries. “New markets, China, Japan, are growing, more than offsetting slowing markets like Europe. If you hold capacity constant, demand continues to improve, you’ll get to a healthy balance and then after that to a shortage.”
China Sunergy Co. Ltd. (NASDAQ: CSUN) shares traded in the range of $2.40 to $2.65 Wednesday before settling to close at $2.51, an increase of 5.02 percent. The stock appears to be facing some resistance at the $2.51 and $2.99 levels with some support at $2.36. Shares of China Sunergy have fallen approximately 25.0 percent in 2013.
More information on China Sunergy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CSUN
Hanwha Solarone Co. Ltd. (NASDAQ: HSOL) shares traded in the range of $2.66 to $3.12 Wednesday before settling to close at $3.02, an increase of 9.82 percent. The stock appears to be facing some resistance at the $3.07 and $3.87 levels with some support at $2.82. Shares of Hanwha Solarone have gained approximately 90.0 percent in 2013.
More information on Hanwha Solarone and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HSOL
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) shares traded in the range of $7.68 to $8.35 Wednesday before settling to close at $8.16, an increase of 4.35 percent. The stock appears to be facing some resistance at the $8.73 and $9.50 levels with some support at $7.95. Shares of JA Solar have gained approximately 90.0 percent in 2013.
More information on JA Solar and access to the free equity report can be found at:
www.WallStreetFundamentals.com/JASO
Suntech Power Holdings Co., Ltd. (NYSE: STP) shares traded in the range of $1.09 to $1.16 Wednesday before settling to close at $1.15, an increase of 5.50 percent. The stock appears to be facing some resistance at the $1.21 and $1.29 levels with some support at $1.12. Shares of Suntech Power have fallen approximately 25.0 percent in 2013.
More information on Suntech Power and access to the free equity report can be found at:
www.WallStreetFundamentals.com/STP
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