Canadian Solar

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Canadian Solar ( CSIQ) 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

Volume: 125,000

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.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.

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