• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 21 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 days The United States produced more crude oil than any nation, at any time.
  • 10 days e-truck insanity
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 10 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)

Breaking News:

Traders Place Bets On $250 Oil

Iraq Has No Intention of Restarting Kurdish Oil Pipeline

Iraq Has No Intention of Restarting Kurdish Oil Pipeline

Baghdad is repairing the Kirkuk-Ceyhan…

U.S. Drilling Activity Continues to Drop Off

U.S. Drilling Activity Continues to Drop Off

The total number of active…

Editorial Dept

Editorial Dept

More Info

Premium Content

Is This The Best Value Energy Stock At The Moment?

Trading

Usually, if you look at a stock and its price makes no sense to you, it is you that has missed something, not the thousands of others whose trades have pushed it to where it is. Sometimes, though, when your analysis is based on fundamental value and the stock sets up for a trade, you just have to ignore that nagging doubt and jump in. That is how I feel right now about Canadian Solar (CSIQ).

The important thing here is that CSIQ does set up well based on the technical picture.

Recent declines have taken it to a level that looks like a solid support and off which it has already bounced significantly twice this year. That doesn’t guarantee that it will do the same this time of course, but it does allow for a trade with logical parameters that has a great risk/reward ratio.

If you but at current levels, around $16.80 at the time of writing, you could set a stop loss order based on a clean break of the support, at say $15.80, that would limit potential loses to under six percent. The average bounce off this level has been around $10. Even half that would take the stock to around $22, giving a profit to loss ratio of over six. That compensates for a lot of risk.

Most of that risk comes from the fact that Canadian Solar is due to report earnings next week. That, presumably, is what is pushing the stock lower, as there are a lot of rumors that their earnings won’t be great. Ironically though, in this context, that is a good thing.

It…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News