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Hot Stock: Hanwha SolarOne, Shares Gain 7.4% (HSOL)
Jun 15, 2012 (SmarTrend(R) Spotlight via COMTEX) --
Hanwha SolarOne (NASDAQ:HSOL) is one of today's best performing low-priced stocks, up 7.4% to $1.02 on 1.2x average daily volume. Hanwha SolarOne has traded 301,000 shares thus far today, vs. average volume of 244,000 shares per day. The stock has outperformed the Dow (7.4% to the Dow's 0.4%) and outperformed the S&P 500 (7.4% to the S&P's 0.4%) during today's trading.
Over the past year, Hanwha SolarOne has traded in a range of $0.81 to $9.78 and is now at $1.02, 26% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2.5% while the 200-day MA has slid 3.5%.
Hanwha SolarOne (NASDAQ:HSOL) has potential upside of 2.9% based on a current price of $1.02 and analysts' consensus price target of $1.05. The stock should find initial resistance at its 50-day moving average (MA) of $1.07 and further resistance at its 200-day MA of $1.66.
Hanwha SolarOne Company Ltd. manufactures photovoltaic (PV) cells and modules, provides PV cell processing services to convert silicon wafers into PV cells, and supplies solar system integration services in China. The Company sells its products both through third-party distributors and directly to system integrators.
SmarTrend recommended that its subscribers protect gains by selling shares of Hanwha SolarOne on February 27th, 2012 by issuing a Downtrend alert when the shares were trading at $1.64. Since that call, shares of Hanwha SolarOne have fallen 42.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
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