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Yingli Green Energy(YGE - Get Report) is a vertically integrated photovoltaic (PV) product manufacturer. Yingli designs, manufactures and sells PV modules, and designs, assembles, sells and installs PV systems. This stock is trading up 9.3% to $3.87 in recent trading.
Today's Range: $3.46-$3.95
52-week Range: $2.75-$13.59
Three-Month Average Volume: 4,408,580
Despite posting a quarterly loss this morning, hurt by a steep slide in solar panel prices, shares of YGE are surging to the upside. The company also cut its full-year photovoltaic module shipment outlook, but the stock is ramping on what is probably a case of "all the bad news priced in" with the stock off by 60% in 2011.
From a technical standpoint, this stock has just started to trigger a breakout trade now that shares are soaring on heavy volume above its 50-day moving average of $3.64. If this stock can sustain a move and close above $3.64, then traders should look for much higher prices in the near future.
>>Stocks Rising on Unusual Volume
The next breakout for YGE will trigger on a high-volume move over $4 a share. Look for volume that's tracking in close to or above its three-month average action of 4,408,508 on any move over $4.