Wednesday, January 23, 2008

Solarfun; Not so Much: Revisiting First Solar, SunPower Corporation, Canadian Solar, and Solarfun Power Holdings (CSIQ; FSLR; SOLF; SPWR)

From Schaeffer's Research:

In a post on Wednesday, I noted that shares of First Solar, Inc. (FSLR), SunPower Corporation (SPWR), Canadian Solar Inc.(CSIQ), and Solarfun Power Holdings Co., Ltd. (SOLF) were nearing oversold levels. Given the action in the three market days since that post, I thought a check-up was warranted.

Here we have the updated charts along with a vertical grey line that marks the date of my original comments. The focus of that post was the 9-Day Relative Strength Index (RSI) and the potential that these charts "could be nearing a short-term exhaustion point". However, there has so far been no sign of a bounce....MORE