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:
China Sunergy Co Ltd. (NASDAQ: CSUN) shares traded in the range of $6.01 to $6.37 Monday before settling to close at $6.18, a decrease of 0.98 percent. The stock appears to be facing some resistance at the $6.21 and $6.89 levels with some support at $5.67. Shares of China Sunergy have gained approximately 335.0 percent in 2013.
More information on China Sunergy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CSUN
Hanwha Solarone Co. Ltd. (NASDAQ: HSOL) shares traded in the range of $3.39 to $3.60 Monday before settling to close at $3.42, a decrease of 2.01 percent. The stock appears to be facing some resistance at the $3.46 and $4.05 levels with some support at $3.23. Shares of Hanwha Solarone have gained approximately 240.0 percent in 2013.
More information on Hanwha Solarone and access to the free equity report can be found at:
www.WallStreetFundamentals.com/HSOL
SunPower Corporation (NASDAQ: SPWR) shares traded in the range of $29.53 to $31.00 Monday before settling to close at $30.19, a decrease of 0.49 percent. The stock appears to be facing some resistance at the $30.63 and $34.29 levels with some support at $29.06. Shares of SunPower have gained approximately 435.0 percent in 2013.
More information on SunPower and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SPWR
Sunedison Inc. (NYSE: SUNE) shares traded in the range of $12.67 to $13.15 Monday before settling to close at $12.93, an increase of 1.73 percent. The stock appears to be facing some resistance at the $13.48 and $13.91 levels with some support at $12.63. Shares of Sunedison have gained approximately 300.0 percent in 2013.
More information on Sunedison and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SUNE
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