Join        Login             Stock Quote

Extremely Oversold: Chinese Solar Stocks Heat Up

 November 29, 2012 12:46 PM

(By Nick Santiago) Chinese solar stocks have been priced for bankruptcy. Over the last two days that may be changing. Word from China is starting to turn positive as these companies are now looking towards selling their solar panels inside China instead of outside. In addition, China seems to be subsidizing them nicely, supporting them from bankruptcy. Earlier this year, the U.S. imposed huge tariffs on solar imports as a measure to penalize dumping on the open market.

Overall, the only solar stock that has performed extremely well in the few months is First Solar, Inc. (NASDAQ:FSLR). First Solar bottomed at $11.43 back in May 2012. Since then it has more than doubled, hitting a high today of $27.40. Overall, this was the major standout while most other solars have kept making new 52 week lows.

[Related -Emerging-Markets Stocks Took The Lead Last Week]

Today, small solar stocks are ripping, especially Chinese solar stocks.  Trina Solar Limited (ADR) (NYSE:TSL) is trading at $2.69, +0.36 (15.45%). This stock hit a new 52 week low just a few days ago at $2.30. In addition, other Chinese solar stocks are ripping higher as well. LDK Solar Co., Ltd (ADR) (NYSE:LDK), Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP), JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) are just a few that are pushing higher today.

Overall, the Chinese solars do have more upside to them. Look for the ones that are still close to their lows. There are enough shorts in these that a squeeze could net a 50% gain from the lows with ease.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageUS REITs Edged Higher Last Week As Emerging Markets Slumped

Real estate investment trusts (REITs) in the US took the lead in last week’s shortened holiday trading week read on...

article imageA Contrarian Perspective On The Short EuroTtrade

As the euro continues to drift lower, it has become the accepted wisdom that we are headed for parity with read on...

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

Popular Articles

Daily Sector Scan
Partner Center

Related Articles:

Is The Slump In US Manufacturing Easing?
More Articles on: Oils/Energy

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.