Canadian Solar - Barchart's Chart of the Day

Summary:

Canadian Solar (CSIQ) is the Chart of the Day.  The modular solar products company has a 96% technical buy signal and a Trend Spotter buy signal. The stock is up 516.86% in the last year.

Article:

The Chart of the Day is Canadian Solar (CSIQ).  The stock was near the top of the New High List when I sorted it for Weighted Alpha which is 537.57+.  The stock has both a Trend Spotter buy and 96% technical buy signals.

It is a solar module producer. The Company offers ingots, wafers, solar cells, solar modules and other solar applications for on-grid and off-grid use to customers worldwide. They also design and produce specialty solar modules and products such as solar-powered bus stop lighting; and specialty products, such as portable solar home systems and solar-powered car battery chargers.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 5 new highs and up 30.65% in the last month
• Relative strength Index 71.35%
• Barchart computes a technical support level at 13.42
• Recently traded at 15.75 with a 50 day moving average of 11.23

Fundamental factors:

• Market Cap $681.03 million
• Revenue projected to grow by 55.80% this year and another 41.30% next year
• Earning estimated to increase 111.30% this year, an additional 409.30% next year and continue to increase annually by 10.00% for the next 5 years
• Wall Street analysts issued 3 buy recommendations

This stock has sky rocketed.  If you get in at this point you need to be prepared to exit immediately if the stock drops below its 50 day moving average.