Spring has fully arrived in Ohio, which means less clouds and more sun. It's a time for working outside and trying to overcome the pasty whiteness that has developed over the winter. But it is also a time for a shift into solar power. General Motors (NYSE:GM), for example, recently installed a very large solar array at its Lordstown, Ohio Plant.
And solar stocks look ready to move on the sunshine as well.
JinkoSolar (NYSE:JKS) has had a steady run higher since the beginning of the year. The momentum indicators are still strong with the RSI bullish -- the MACD rolling over -- but still positive during the consolidation. The recent consolidation is what makes it interesting and presents a possible entry. A break above 29.75 would trigger a Measured Move to 32.75. Get ready to light this one up.
JA Solar (NASDAQ:JASO) is also looking good. It's had the same run higher since the beginning of the year and is now at the September high. The shooting Star candle may mean a pullback, which creates a possible handle to go with the Cup that formed over the last 7 months. A break back above the top of the Cup would carry a target of 14.20.
Finally Canadian Solar (NASDAQ:CSIQ) -- a Top-10 pick 2 weeks ago -- is moving higher out of a triangle consolidation. It does not have resistance until 40.25, nearly 10% higher.