Solar Stocks See Light

This morning, the stock markets are experiencing a global sell off across the board. Oil, gold, silver, copper, and most other commodities are declining sharply. However, there is one sector that is making a move higher and it is the solar sector.

First Solar Inc. (NASDAQ:FSLR) is the leading solar stock in the market. FSLR is trading higher by $7.02 to $154.00 a share. Traders can watch for intra-day resistance around the $156.40 area. Should FSLR trade higher today the next important intra-day resistance area will be around the $160.90 level.

The Guggenheim Solar ETF (NYSE:TAN) is trading higher by 0.42 cents to $8.19 a share. Traders must watch the $8.30 area as this will be some intra-day resistance. Should the TAN trade above this level the $8.45 area is the next important intra-day resistance level.

About Nicholas Santiago 575 Articles


Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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