Alternative Energy Stocks Back in Focus
Posted by Blain Reinkensmeyer
April 8, 2008 at 10:46 am
Alternative Energy stocks have had a very nice rally the last few weeks with stocks like FSLR posting 10 consecutive up days in a row. Is this the start of another successful long term run?
I have featured below four stocks from this group that every investor should have on their close watch list. For regular readers names like FSLR and LDK are not unknown by any means as they have been posted in the past.
First Solar (FSLR) is the first stock featured as it is the leader of the alternative energy group. The stock broke out of a descending channel on 3/25 and hasn’t looked back since. Though this leader may need a rest to build a base, it may only be a matter of time before the stock is on the move again.
Massey Energy (MEE) has surged in the last week to new price highs above $50. The stock is up over 20% in the last three trading days.
LDK Solar (LDK) has been tracked on the blog for several weeks now, with the recent breakout past $30 being a buy point. The stock has shown extensive price volatility and trading today under $32 may only make for a second great entry point.
Canadian Solar (CSIQ) is settling nicely after moving past $22.50. Next buy point should be $26.50 on very heavy volume. Or, for those a bit speculative you could buy half now with a tight stop and add the rest at the next break.
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Blaine,
Thanks for the posts, as always. The alternative energy stocks have been on fire and I’ve been looking at a point to get in. I like LDK a lot and will be watching closely.
A good entry point is tough I agree. They have had such a fast run you almost think atleast some sort of short term pause is in store.
Thanks for reading and good luck out there!
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