• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Stocks

The Sun Is Shining on Canadian Solar

Let's check out the charts together.
By BRUCE KAMICH
Aug 26, 2022 | 12:22 PM EDT
Stocks quotes in this article: CSIQ

Canadian Solar ( CSIQ) is  a leading manufacturer of solar photovoltaic modules, and provider of solar energy and battery storage solutions. After spending a couple days recently in Vancouver on the way to an Alaskian cruise I found this company interesting. Let's check out the charts together. 
 
In this daily bar chart of CSIQ, below, we can see that the shares have been basing since December. Prices found buying interest in the $26-$22 area. CSIQ is trading above the rising 50-day moving average line and above the rising 200-day line. The 50-day line crossed above the 200-day line in early August for a bullish golden cross buy signal.
 
The daily On-Balance-Volume (OBV) line shows strength from October and confirms the price gains we have seen the past year. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line. 
 
 
In the weekly Japanese candlestick of CSIQ, below, we can see the price action of the past three years. The shares are trading above the now rising 40-week moving average line.
 
The weekly OBV line shows strength the past three years and that is pretty impressive. The MACD oscillator crossed above the zero line in July for an outright buy signal. 
 
 
 
In this daily Point and Figure chart of CSIQ, below, we can see a potential upside price target in the $65 area. 
 
 
 
In this weekly Point and Figure chart of CSIQ, below, we can see a potential price objective in the $88 area. 
 
 
 
Bottom- line strategy: I consider it bullish when I see solar stocks strong in the U.S. and in other markets. Traders who don't mind investing in companies based outside the U.S. could go long CSIQ towards $42 risking to $37. The $65 area is our price target for now.
 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Stocks | Technical Analysis | Energy | Canada | ESG Investing

More from Stocks

The Indexes Are Holding Support, but That Is All

James "Rev Shark" DePorre
Mar 28, 2023 4:40 PM EDT

The biggest gainers were China-related names Alibaba, PDD Holdings Inc., and JD.com.

In This Market, Walmart Offers Investors One-Stop Shopping

Brad Ginesin
Mar 28, 2023 1:43 PM EDT

WMT may not be a 'value stock' but in a choppy market, it is a supertanker sailing steadily ahead.

Are You Chomping at the BITC for a Direct Exposure Bitcoin ETF?

Mark Abssy
Mar 28, 2023 12:27 PM EDT

Let's take a close look at the Bitwise Bitcoin Strategy Optimum Roll ETF, its exposure to bitcoin, and ... Contango.

Let's Dig Into First Republic Bank

Bruce Kamich
Mar 28, 2023 12:26 PM EDT

Despite talk of a possible failure, the bank has remained open.

As Big-Tech Stocks Like Nvidia, Microsoft Cool, Here's My Strategy

James "Rev Shark" DePorre
Mar 28, 2023 11:55 AM EDT

The best quality you can have right now as a trader is patience.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 04:00 PM EDT CHRIS VERSACE

    AAP Podcast: This Solar Company Is a Head-Turner

    Listen to my interview with Brian Roth, CEO of sol...
  • 01:56 PM EDT PETER TCHIR

    Very Cautious

    I am very cautious here. I don't like how the c...
  • 08:58 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    How to Adjust Your Trading Style as Market Conditi...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login