Can anyone shed light on Evergreen Solar (eslr), a solar panel producer?
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Talk about an ugly chart my friend, but i think there is more downsideThere's going to be a push towards the solar panels eventually-imho, but the heat waves are temporary. The best time to pick up these companies are when they are hated beyond recognition to the upside. Plus, I think that Q-Cells AG and Renewable Energy Corporation ASA partnership is an interesting one...at least that ESLR is trying to get out there and market the product, instead of sitting out there (like a few of these renewable energy companies). In addition the stock trades at a a discount from where Cramer started recommending it. However, the company must learn to start finding a way to start producing the panels with out so much cost. Silicon prices are following the general trend with all the other metals, which is to be expected, but this is the best company to be in--if you had to be invested in this sector.
From a technical stand point.http://stockcharts.com/h-sc/ui?s=eslr&p=...
The stock needs to set a clear bottom and hold it.it appears to have done that several times, but has broken the bottom pennet.
Bottom Line..until the company finds a way to cut cost, the stock will most likely to continue lower, but there will be a time to buy
Happy Trading,
-Paul
Yes, it is ugly. There is, however some nice support at $7 that you can take advantage of.
Dec 7.50 Puts on the stock (QLUXU) are currently trading at about $0.40-0.45. This may be a way to double your money over the next couple of months or so. Looking at the chart, the dip to seven dollars looks pretty inevitable, especially given the fact that BP is investing big-time in thin-film solar panels that are basically malleable to the contour of a structure and use no silicone in their manufacture.
Things don't look good for Evergreen Solar stock prices.
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