Solar energy stocks trend reversal

2014-11-24 08:27:25

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Aggregated price of solar stocks grew by nearly 15 percent since 13th November. It seems that the short-term downward trend has reversed.

There was the post on the blog concerning a downward trend in prices of solar stocks (First Solar, SunPower Corporation, SunEdison). The reason of price decrease was a poor financial performance of solar companies in the third quarter.


One week ago the trend reversed. SunEdison was the most growing stock in this period, it soared by over twenty percent on Tuesday. The reason was an acquisiton of First Wind for $2.4 billion. CEO and President of SunEdison Ahmad Chatila announced, that SunEdison became the world's largest renewable power plant developer.


SunPower and First Solar seem to follow their "peer" in a short-term, but earlier their prices broke trend lines and now they are settled below 20, 50 and 200 SMAs. It's too early to say, that prices got back on track.


Link to the Stock Screener with fundamental statistics is here.
Link to the trend is here.




Solar energy


Semiconductor - Specialized,Semiconductor - Integrated Circuits, Semiconductor - Broad Line,Electronics Wholesale
Trend Strength: *****, Change: 14.98% Trend start: Thursday, 2014-11-13 13:15


Motive instruments:


FSLRSPWRSUNE


 


Important news:


SunEdison and TerraForm to Buy First Wind for $2.4B
SunPower Falls on Soft Guidance; Other Solar Stocks Tumble


 


 

 

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