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.