Shares of Canadian Solar Inc (CSIQ) are hitting a new annual high today. That is worth noting as the stock carries a relatively heavy level of short interest. According to data collected by our Quantified Analysis department, 10% of the stock's float is sold short. The weekly chart below gives some perspective on the situation.
Chart Courtesy of Thomson Reuters
Like many names related to alternative energy, shares of CSIQ took off in 2007 and eventually turned sharply lower. A base was eventually put in and the stock showed signs of life after the March bottom. The rally then stalled at congestion near 20. However, instead of seeing a rejection, the stock consolidated and eventually broke out....MORE
Monday, December 7, 2009
One to Watch - Canadian Solar Inc (CSIQ)
I don't spend a lot of time with the smaller Chinese solars but Schaeffer's has some screens that will find ideas. From Schaeffer's Research: