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Hanwha SolarOne Up 8.2%, Shares Break Through Resistance (HSOL)
Jan 23, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Hanwha SolarOne (NASDAQ:HSOL) is one of today's best performing low-priced stocks, up 8.2% to $1.39 on 1.2x average daily volume. Thus far today, Hanwha SolarOne has traded 691,000 shares, vs. average volume of 583,000 shares per day. The stock has outperformed the Dow (8.6% to the Dow's 0.4%) and outperformed the S&P 500 (8.6% to the S&P's -0.0%) during today's trading.
Hanwha SolarOne (NASDAQ:HSOL) defies analysts with a current price ($1.39) 40.6% above its average consensus price target of $0.82. Hanwha SolarOne shares have support at the 200-day moving average (MA) of $1.07 and additional support at the 50-day MA of $1.04.
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.
Hanwha SolarOne share prices have moved between a 52-week high of $9.78 and a 52-week low of $0.77 and are now trading 80% above that low price at $1.39 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has remained constant.
SmarTrend recommended that subscribers consider buying shares of Hanwha SolarOne on January 3rd, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.24. Since that recommendation, shares of Hanwha SolarOne have risen 3.6%. We continue to monitor HSOL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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