Suntech Power

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Suntech Power ( STP), a solar energy company, designs, develops, manufactures and markets a number of PV cells and modules, including a range of value-added building-integrated photovoltaics products. This stock is trading up 6.6% to $1.60 in recent trading.

Today's Range: $1.50-$1.62

52-Week Range: $0.71-$3.93

Volume: 3.58 million

Three-Month Average Volume: 3.98 million

From a technical perspective, STP is ripping higher here right above its 50-day moving average of $1.45 with solid volume. The 50-day for STP has recently crossed back above its 200-day moving average, which is a bullish technical development. Shares of STP are now quickly moving within range of triggering a near-term breakout trade. That trade will hit if STP manages to clear some near-term overhead resistance levels at $1.69 to $1.78 and then once it takes out $1.83 with high volume.

Traders should now look for long-biased trades in STP as long as it's trending above its 50-day at $1.45 and then once it sustains a move or close above those breakout levels with volume that hits near or above 3.98 million shares. If that breakout hits soon, then STP will set up to re-test or possibly take out its next major overhead resistance levels at $1.95 to $1.99. Any high-volume move above $1.99 will then put $2 to $2.14 into range for shares of STP.

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.

RELATED LINKS:



Follow Stockpickr on Twitter and become a fan on Facebook.

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 technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.

If you liked this article you might like

Mindspeed (MSPD) Soars, Suntech (STP) Skids

The Deal: Suntech Gets $150M Shot in the Arm

Watch Out For Zombie Solar Stocks

5 Stocks Under $10 Set to Soar

5 Stocks Under $10 Set to Soar