Chart courtesy of stockcharts ( click to enlarge )

Shares of Evergreen Solar (eslr) rose Thursday by nearly 4% as analyst Mark Bachman from Pacific Crest began covering the stock with a “Buy”- equivalent rating on the shares and a $17 price target, implying growth of nearly 90 percent over its closing price Wednesday of $9.15. Mark said Thursday in a client note that the vertically integrated company is one of the main low-cost producers in the sector. He also said the company should be able to reduce the silicon content of its solar wafers to 2.5 grams per watt, or 13 cents per watt. That contrasts with the current industry average of about 7 grams per watt, or 35 cents per watt. Silicon is one of the industry’s main expenses.

ESLR is part of the Solar sector and formed a falling wedge. Upside volume is picking up and a break above $9.50 would be bullish, a break above this level opens initially the door to $10. In addition, the stock has the opportunity to start new rally as K line is back above D line. Stay tuned on it.

Chart courtesy of stockcharts ( click to enlarge )

I recommend a sell in Apple (aapl) from a short perspective. It is clearly visible from the chart of AAPL that the stock has been moving sideways since last month in a range between $192 and $177 and broke the channel today. I expect the stock to decline to $160 level in the short-term. Almost all indicators as MACD, RSI and Stochastic are showing me to exit the long side. Investors with a short-term perspective can sell the stock with stop-loss at $177.

Chart courtesy of stockcharts ( click to enlarge )

Ciena (CIEN) - The stock is entering a support zone around $27,42-$25.25 from the Feb-March consolidation.

Chart courtesy of stockcharts ( click to enlarge )

CME Group (CME) has been trying to bottom for a couple of days now. There have been some pretty bullish candles forming and it seems to me like it is ready to turn up. If not, at least there is a clear area to put in a stop and scratch the trade. Hold it with a stop loss around its 52 week low of $374.31.Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations. The charts provided here are not meant for investment purposes and only serve as technical examples.

Posted in Categories: Contributor, External Research, Stocks.