Canadian Solar Inc. (NASDAQ: CSIQ)

Canadian Solar Inc. engages in the design, development, manufacture, and sale of solar power products worldwide. The company offers solar wafers, cells, and solar module products that convert sunlight into electricity for various uses. Its products include a range of standard solar modules for use in a range of residential, commercial, and industrial solar power generation systems. The company also designs and produces specialty solar modules and products consisting of customized solar modules that its customers incorporate into their products, such as building integrated photovoltaic modules, or BIPV modules; and specialty products, such as portable solar home systems and solar-powered car battery chargers. In addition, it sells solar system kits, a package consisting of solar modules produced by it; and third party supplied components, such as inverters, racking system, and other accessories.
To review potential trading opportunities with Canadian’s stock, please take a look at the 1-year chart of CSIQ (Canadian Solar, Inc.) below with my added notations:

Double tops are reversal patterns and are as simple as they sound: Rallying up to a point (T), selling off to a support, and then rallying back up again to approximately the same top (T). CSIQ appears to have formed a double top price pattern (red) from the beginning of the year until earlier this week. As with any price pattern, a confirmation of the pattern is needed. CSIQ confirmed its pattern by breaking the $35 support (blue) that was created by the double top pattern.

The Tale of the Tape: CSIQ has broken down from its double top and should be moving lower overall. A short trade could be made on any rallies back up to $35, while a long trade could be made if the stock were to break back above the $35 level.
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