Stock Chart Analysis CSIQ

Posted by downtowntrader | 4/08/2008 08:47:00 PM | 2 comments »

Stock Chart Analysis CSIQ

Canadian Solar Inc. (Public, NASDAQ:CSIQ)

Solar stocks have been on fire lately and buyers stepped in quickly after Mondays reversal. While some solar stocks have been all over the road, CSIQ has been forming a fairly steady base all year. It cleared the base on a closing basis last week and came back to retest the breakout this week. While there is a chance that CSIQ falls back into the base or worse yet, this is a bear trap, the chances are that the breakout will hold. The measured target for the double bottom / triangle breakout is near 34, so there is obviously a lot of potential here. I would probably stick with a volatility stop on this one, as it has some wiggle to it.

Good Trading,


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  1. rbbalaji // 8:48 PM  

    good call joey.

  2. downtowntrader // 10:16 PM  

    Thanks rbbalaji. Unfortunately, this is the one pick of my recent charts I missed. It gave me a small window of opportunity to get in and I missed it. Luckily, NFLX, RIO, and NUE were good too. Hopefully you were able to get it.

    Good Luck,