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Canadian Solar(CSIQ - Get Report) designs, develops, manufactures and sells solar cell and solar module products that convert sunlight into electricity. This stock is trading up 5.7% to $2.78 in recent trading.
Today's Range: $2.64-$2.82
52-Week Range: $2.07-$4.74
Three-Month Average Volume: 375,131
Share of CSIQ are ripping higher today after the Obama administration upheld tariffs on Chinese solar panels.
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From a technical perspective, CSIQ is bouncing higher here with light volume right near some previous support levels at $2.56 to $2.58. This move is quickly pushing CSIQ within range of triggering a near-term breakout trade. That trade will hit once CSIQ manages to take out its 50-day moving average of $2.85 with high volume.
Traders should now look for long-biased trades in CSIQ once it manages to clear its 50-day with volume that hits near or above 375,131 shares. If that breakout triggers soon, then look for CSIQ to re-test or possibly take out its next significant overhead resistance levels at $3.25 to $3.40. Any high-volume move above those levels could setup CSIQ for a run back to $3.70 or $4 in the near future.
To see more stocks that are making notable moves higher today, check out the
Stocks Under $10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.