On Monday, the European Commission announced it would begin imposing anti-dumping and anti-subsidy measures on some Chinese solar panels. The anti-dumping measures, which will last for a period of two-years, apply to producers who do not meet the conditions set earlier this year. Chinese solar manufacturers had previously agreed to set a minimum price of 56 euro cents a watt. "The commission found that Chinese companies were selling solar panels in Europe at far below their normal market prices and were receiving illegal subsidies, causing significant harm to EU solar panel producers," the EU's executive wrote. Here is how some solar stocks reacted Monday:
Canadian Solar Inc. (NASDAQ: CSIQ) shares traded in the range of $28.57 to $30.00 Monday before settling to close at $29.02, a decrease of 0.41 percent. The stock appears to be facing some resistance at the $29.18 and $32.70 levels with some support at $25.06. Shares of Canadian Solar have gained approximately 750.0 percent in 2013.
More information on Canadian Solar and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CSIQ
First Solar, Inc. (NASDAQ: FSLR) shares traded in the range of $58.90 to $60.49 Monday before settling to close at $59.81, a decrease of 0.02 percent. The stock appears to be facing some resistance at the $59.81 and $64.97 levels with some support at $54.86. Shares of First Solar have gained approximately 90.0 percent in 2013.
More information on First Solar and access to the free equity report can be found at:
www.WallStreetFundamentals.com/FSLR
LDK Solar Co., Ltd (NYSE: LDK) shares traded in the range of $1.49 to $1.54 Monday before settling to close at $1.50, flat for the day. The stock appears to be facing some resistance at the $1.54 and $1.58 levels with some support at $1.47. Shares of LDK Solar have gained approximately 4.0 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 $13.79 to $14.60 Monday before settling to close at $14.16, an increase of 1.14 percent. The stock appears to be facing some resistance at the $14.78 and $17.31 levels with some support at $11.98. Shares of Trina Solar have gained approximately 225.0 percent in 2013.
More information on Trina Solar and access to the free equity report can be found at:
www.WallStreetFundamentals.com/TSL
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