Solar stocks have surged in 2014 on growing support from the U.S. government. “It’s not just oil and natural gas production that’s booming; we’re becoming a global leader in solar, too,” President Obama said in his State of the Union address. "Every four minutes, another American home or business goes solar; every panel pounded into place by a worker whose job can’t be outsourced. Let’s continue that progress with a smarter tax policy that stops giving US$4 billion a year to fossil fuel industries that don’t need it, so that we can invest more in fuels of the future that do," he added. The Guggenheim Solar ETF (NYSEARCA: TAN) has gained 23.0 percent year-to-date. Here is how some solar stocks reacted Friday:
Enphase Energy Inc. (NASDAQ: ENPH) shares traded in the range of $7.33 to $8.00 Friday before settling to close at $7.37, a decrease of 6.83 percent. The stock appears to be facing some resistance at the $7.48 and $8.28 levels with some support at $7.03 and $6.80. Shares of Enphase Energy have gained approximately 16.0 percent year-to-date.
More information on Enphase Energy and access to the free equity report can be found at:
www.WallStreetFundamentals.com/ENPH
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) shares traded in the range of $9.90 to $10.41 Friday before settling to close at $10.00, a decrease of 3.66 percent. The stock appears to be facing some resistance at the $10.11 and $10.32 levels with some support at $9.61 and $9.17. Shares of JA Solar have gained approximately 9.0 percent year-to-date.
More information on JA Solar and access to the free equity report can be found at:
www.WallStreetFundamentals.com/JASO
LDK Solar Co., Ltd. (NYSE: LDK) shares traded in the range of $1.01 to $1.03 Friday before settling to close at $1.01, a decrease of 1.94 percent. The stock appears to be facing some resistance at the $1.07, $1.16 and $1.21 levels. Shares of LDK Solar have fallen approximately 23.0 percent year-to-date.
More information on LDK Solar and access to the free equity report can be found at:
www.WallStreetFundamentals.com/LDK
ReneSola Ltd. (NYSE: SOL) shares traded in the range of $3.49 to $3.65 Friday before settling to close at $3.54, a decrease of 1.12 percent. The stock appears to be facing some resistance at the $3.73 and $3.96 levels with some support at $3.46 and $3.06. Shares of ReneSola have gained approximately 2.6 percent year-to-date.
More information on ReneSola and access to the free equity report can be found at:
www.WallStreetFundamentals.com/SOL
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