YoungInvestorsUCF
Long

Forming Support at Prior Q Earnings Level

NYSE:TSL   TRINA SOLAR LIMITED
After producing a stellar             quarter back in May, $TSL has erased nearly all of its gains (40%). After bouncing between 11-13 in the summer months it seems that stock has found a very solid base in the low 11s. After almost dropping to $10 we have seen price action test the ascending downside trend line multiple times and it has held strong.

The MACD also has made a move towards the signal line and has barely crossed indicating momentum could be shifting back towards the upside. In addition, The Stoch . RSI has plenty of room to run to the upside as well.

With earnings approaching in mid August I think this could be a great time to get in light of the MACD crossing paired with price action pinching in the apex of the triangle.

If TSL             can provide a healthy beat as it did last quarter I see it fit that we see $14.33 (The 1 point Fib Mark) by the end of August.
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