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Traders Get Bullish on Shares of Hanwha SolarOne, Shares Up 5.4% (HSOL)
Feb 13, 2013 (SmarTrend(R) Spotlight via COMTEX) --
Hanwha SolarOne (NASDAQ:HSOL) is one of today's best performing low-priced stocks, up 5.4% to $1.37 on 1.1x average daily volume. Thus far today, Hanwha SolarOne has traded 600,000 shares, vs. average volume of 549,000 shares per day. The stock has outperformed the Dow (5.4% to the Dow's -0.4%) and outperformed the S&P 500 (5.4% to the S&P's -0.0%) during today's trading.
Hanwha SolarOne (NASDAQ:HSOL) defies analysts with a current price ($1.37) 45.3% above its average consensus price target of $0.75. The stock should find initial support at its 50-day moving average (MA) of $1.14 and further support at its 200-day MA of $1.08.
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.
In the past 52 weeks, Hanwha SolarOne share prices have been bracketed by a low of $0.77 and a high of $9.78 and are now at $1.37, 77% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.9%.
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 5.3%. 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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