Tuesday, November 18, 2014

Solar: SunEdison Saves the Day (SUNE; FSLR; TSL; TAN)

With wind.
Yesterday we noted the solars were down hard, right to chart support, and:
If they can't hit the brakes very soon (today?) they are headed for multi-year lows....
Here's today's action:
FSLR    49.02 +1.07 (2.23%)
TSL        9.98 +0.45 (4.72%)
TAN     35.90 +1.29 (3.73%)
SPWR   28.02 +0.62 (2.26%)
And the reason for the activity? Sun Edison (SUNE $20.23 Up 3.62 or 21.79%)
Major Wind Acquisition Makes SunEdison World's Largest Renewable Energy Developer

I'm thinking this does not hold, there was no change in fundamentals but, as always that's just a guess.
Here are two of yesterday's charts:
First up the premier U.S. thin-film manufacturer:
And the largest U.S. silicon photovoltaic manufacturer: