Asian markets received a boost Monday as China’s government statistics bureau reported GDP grew 7.5 percent in the second quarter, although down from a 7.7 growth in the previous quarter it was in line with economists’ forecasts. Solar stocks were amongst the biggest gainers Monday after the Chinese government announced plans to quadruple solar capacity to 35 gigawatts by 2015, roughly 10 gigagwatts a year from 2013 to 2015. The government has also stated it would encourage banks to continue lending to large profitable solar manufacturers.
Canadian Solar Inc. (NASDAQ: CSIQ) shares traded in the range of $11.77 to $14.08 Monday before settling to close at $13.93, an increase of 20.61 percent. The stock appears to have some support at the $13.47, $11.73 and $10.92 levels. Shares of Canadian Solar have gained approximately 310.0 percent in 2013.
More information on Canadian Solar and access to the free equity report can be found at: www.WallStreetFundamentals.com/CSIQ
LDK Solar Co., Ltd. (NYSE: LDK) shares traded in the range of $1.49 to $1.77 Monday before settling to close at $1.75, an increase of 21.53 percent. The stock appears to be facing some resistance at the $1.96 and $2.04 levels with some support at $1.65. Shares of LDK Solar have gained approximately 21.5 percent in 2013.
More information on LDK Solar and access to the free equity report can be found at: www.WallStreetFundamentals.com/LDK
Trina Solar Limited (NYSE: TSL) shares traded in the range of $7.05 to $7.81 Monday before settling to close at $7.74, an increase of 12.66 percent. The stock appears to have some support at the $7.40, $6.68 and $6.38 levels. Shares of Trina Solar have gained approximately 78.3 percent in 2013.
More information on Trina Solar and access to the free equity report can be found at: www.WallStreetFundamentals.com/TSL
Yingli Green Energy Hold. Co. Ltd. (NYSE: YGE) shares traded in the range of $3.85 to $4.17 Monday before settling to close at $4.16, an increase of 11.23 percent. The stock appears to have some support at the $3.93, $3.85 and $3.62 levels. Shares of Yingli Green Energy have gained approximately 77.0 percent in 2013.
More information on Yingli Green Energy and access to the free equity report can be found at: www.WallStreetFundamentals.com/YGE
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