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Jim Van Meerten
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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
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  • Canadian Solar - Barchart's Chart Of The Day 0 comments
    Sep 25, 2013 6:12 PM | about stocks: CSIQ

    The Chart of the Day is Canadian Solar (NASDAQ:CSIQ). In the past 6 months the stock hit 30 new highs and is up 369.14%. I found the stock by sorting the New High List for Weighted Alpha and this stock scores 446.20+.

    It is a solar module producer. The Company offers ingots, wafers, solar cells, solar modules and other solar applications for on-grid and off-grid use to customers worldwide. The Company also designs and produces specialty solar modules and products such as solar-powered bus stop lighting; and specialty products, such as portable solar home systems and solar-powered car battery chargers. Canadian Solar has operations world-wide.

    (click to enlarge)

    Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    Barchart technical indicators:

    • 96% Barchart technical buy signals
    • Trend Spotter buy signal
    • Above its 20, 50 and 100 day moving averages
    • 9 new highs and up 15.50% in the last month
    • Relative Strength Index 64.40%
    • Barchart computes a technical support level at 14.17
    • Recently traded at 15.20 with a 50 day moving average of 13.50

    Fundamental factors:


    • Market Cap $663.78 million
    • Revenue expected to increase 40.40% this year and another 51.10% next year
    • Earnings estimated to rise 105.50% this year, a whopping 1,181.00% next year and continue to increase annually by 10.00% a year for at least the next 5 years
    • Wall Street analysts have issued 4 buy recommendations

    Recently the stock keeps rising on steady volume but you just can't help but wonder how far it has to go after a 405% rise in a year. Watch that 50 day moving average

    Stocks: CSIQ
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