Not a long time ago, I've heard of nanosolar, a solar company which manufactures very thin silicium films. Google was interested in this company. Therefore, I thought it would be a good investment but i couldn't trade it as it hadn't entered (yet?) NASDAQ market.
I searched the web for innovating solar companies. I found energy conversion devices. Looking at the chart, I thought it could be interested to invest on this value...
"Energy Conversion Devices, Inc. (Nasdaq: ENER) manufactures and sells thin-film solar laminates that convert sunlight to energy using proprietary technology. Distributed globally under the UNI-SOLAR® brand, the company's products are ideally suited for cost-effective solutions for roofing applications because they are lightweight, durable, flexible, can be integrated directly with building materials, and generate more energy in real-world conditions. ECD also pioneers other alternative technologies, including a new type of nonvolatile digital memory technology that is significantly faster and less expensive, ideal for use in a variety of applications, including cell phones, digital cameras and personal computers."
Here's the chart taken from google finance:
On the 5th of October, the company announced it would supply 4.8 megawatts of solar generating systems to Recurrent Energy in Spain but strangely enough, the investors didn't react to this news. The value was still going downward. Maybe the market will react later?
Technically, after long white candlesticks based on significant volumes, there has been a smooth downward movement...The black candlesticks are getting
narrower bodies, showing uncertainty, a pause/correction of the downtrend. The buyers may hesitate to continue selling their stocks. The volumes are especially low
If you look at the chart from Feb to September, you can notice a falling wedge. A falling wedge usually announces strong reversals...
If you look at time cycles, you can see that an average 40 day interval
separates two picks or two lows. The last high was on about 30 day ago so maybe it's time to get ready for a change in the next few days?...
The stock behaviour is really irregular with lots of whipsaws since the second half of July.
generally, upward movements are strong, sometimes with gaps so my advice is one shouldn't wait too long to enter the position, or you might miss the train!..
One can notice a positive divergence on the MACD: the stock is having lower highs while the MACD indicator is getting higher lows.
The MACD is getting closer to its trigger line and it seems to follow it, which may indicate a really strong buy signal unlike when it crosses it abruptly...
Also, the slow stochs indicate the value is clearly overbought...Besides, you can uncover a time interval for the stock cycle by following the extremes of this indicator..
So, what would be, for me, the target value?The 100 day simple moving average proves to be a good resistance level. If you project it in the short-term future, a level of 14 could be a good target, which would represent about 40% gain but maybe I'm too optimistic?!..
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We shall see what's happening next.
My estimate may be totally false, who knows?
