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Master Levels To Buy On Three Beaten Down Stocks



November 10, 2011 – Comments (0) | RELATED TICKERS: FSLR , GMCR.DL , BB

While the market chops up and down, some key well known names continue to sink lower. Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR), First Solar, Inc. (NASDAQ:FSLR) and Research In Motion Limited (USA) (NASDAQ:RIMM)  are all top tier names on Wall Street that are fighting to survive. Below are the master levels where these stocks will find support. These levels will finally represent a solid risk to reward long play.

Green Mountain Coffee Roasters Inc. is down from a 52 week high of $115.98. It hit a low of $40.55 today. The chart filled a master gap fill that does tell technical traders of a possible impending bounce. The bounce could take the stock back to $56.00. While the chart does look attractive, make sure to be wary of the current issues with their accounting. Should these issues be cleared up, the upside becomes much more viable.

First Solar, Inc. continues to be in pain. Margins on solar panels continue to decline as the industry must clear the over production from China. This seems to be exactly what the housing market has been dealing with over the last four years. First Solar will most likely head slightly lower. There is a master level at $42.50. Once hit, this stock looks to have solid upside potential. The 52 week high is $175.45 while the current price is $44.69. Intelligent investors will start to eye First Solar at the $42.50 level as risk to reward starts to look favorable.

Lastly, Research In Motion Limited  must be discussed. One of the darlings of the market years ago, this stock has lost its way. All charts point to the master level of $14.50. This is where the stock will find major support and a possible bottom. In addition, at this price a buyout becomes very likely. The 52 week high on Research In Motion is $70.54 as it currently trades at $17.65.

Gareth Soloway

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