Trina Solar Limited operates as an integrated solar-power products
manufacturer and solar system developer in the People’s Republic of
China, Europe, the United States, and other Asia Pacific regions. The
company designs, develops, manufactures, and sells photovoltaic (PV)
modules comprising monocrystalline PV modules ranging in various power
outputs; and multicrystalline PV modules ranging from 230 W to 310 W in
power output for use in residential, commercial, industrial, and other
solar power generation systems. It also provides mono- and
multi-crystalline silicon ingots, wafers, cells, and related products,
as well as PV modules for customer and end-user specifications.
Take a look at the 1-year chart of Trina (NYSE: TSL) below with the added notations:
TSL has been slowly chopping its way lower for most of the year.
However, since bottoming in October, the stock seems to have stabilized
and has been working its way slightly higher. Twice over the last 2
months TSL has found resistance at the $11 level (black), which was also
a common support back in the summer. A break back above $11 should
result in higher prices for the stock.
The Tale of the Tape: TSL has a key level at $11. A
trader could enter a long position on a break above $11 with a stop
placed under the level. However, if traders are bearish on the stock, or
the market overall, a short trade could be made at the $11 level
instead.
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