This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

[video] SolarCity Announces New Jersey Expansion, Stock up 7%

The video this transcript is based on appeared on December 19.

NEW YORK (TheStreet) -- SolarCity is jumping over 7% after announcing the opening of an operations center in New Jersey.


Debra Borchardt:
The sun is shining on the solar sector today with SolarCity (SCTY) up over seven percent. So what's in store for the stock? It's already moved up considerably this year. Well joining me now is T3 Live's chief strategic officer Scott Redler. So Scott, its already had an amazing year, what's next?

Scott Redler:
What's funny is last year at this time it feel that the whole sector was left for dead and then the beginning the year all the solars came into play and have had enormous moves. So at this particular point we're looking for set-ups. SolarCity is up seven percent today, yesterday the stock was nice and tight - great setup for traders. We actually even sent it out to our community last night, it was on Real Money Pro. Basically when they re-setup you go after it. Right now if you take a look at the chart for SolarCity you'll see how tight the pattern was. You look over there right there, nice consolidation, getting very tight. The buy area would have been around $54 and that was there this morning and now it's up seven percent. That stock probably see the low 60s.

Debra Borchardt:
Right I see that you've got a target of $65 on there now. There really hasn't been a lot of fundamental news. There was a little bit of good news about them opening operation center in New Jersey, they talked about this hot South Jersey demographic that things were so strong there that they have to hire people to get that the panels out to them.

Scott Redler:
I'll be honest, I don't see any news either, I just think sometimes when charts technically break out they go and they know there's a big short interest in SolarCity. When you have Musk behind the stock up and you have a hot sector like the solars, because you look at (FSLR) , it's up today. (CSIQ) is up today so not only is it SolarCity it's the sector and then when you pick a stock like that that has a good setup you can get up and go in. Right now it's like day one of a new breakout so I think it can continue.

Debra Borchardt:
Alright well there you go, if you don't already have SolarCity it might not be too late to get involved in it. That's Scott Redler from  T3 Live and I'm Debra Borchardt with TheStreet.

Written by Debra Borchardt in New York.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.27 -0.76%
FB $101.00 1.47%
GOOG $684.12 0.89%
TSLA $143.67 -3.09%
YHOO $27.10 1.04%


Chart of I:DJI
DOW 15,914.74 -99.64 -0.62%
S&P 500 1,851.86 -0.35 -0.02%
NASDAQ 4,283.5920 +14.8290 0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs