TMCNet:  Canadian Solar Up 5.4%, Shares Break Through Resistance (CSIQ)

[April 23, 2013]

Canadian Solar Up 5.4%, Shares Break Through Resistance (CSIQ)

Apr 23, 2013 (SmarTrend(R) Spotlight via COMTEX) -- Canadian Solar (NASDAQ:CSIQ) is one of today's best performing low-priced stocks, up 5.4% to $4.29 on 1.2x average daily volume. Canadian Solar has traded 754,000 shares thus far today, vs. average volume of 651,000 shares per day. The stock has outperformed the Dow (5.4% to the Dow's 1.0%) and outperformed the S&P 500 (5.4% to the S&P's 1.1%) during today's trading.


Canadian Solar Inc. designs, manufactures, and sells solar module products that convert sunlight into electricity for a variety of uses. The Company's products include a range of standard solar modules for use in a wide range of residential, commercial, and industrial solar power generation systems.

Canadian Solar share prices have moved between a 52-week high of $5.15 and a 52-week low of $1.95 and are now trading 120% above that low price at $4.29 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.3% while the 200-day MA has risen 0.2%.

Potential upside of 60.8% exists for Canadian Solar, based on a current level of $4.29 and analysts' average consensus price target of $6.90. Canadian Solar shares have support at the 50-day moving average (MA) of $3.91 and additional support at the 200-day MA of $3.34.

SmarTrend is monitoring the recent change of momentum in Canadian Solar. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Canadian Solar in search of a potential trend change.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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