JTPro
Long

It's time to buy! (TSL update #1)

BATS:TSL   TRINA SOLAR LIMITED
148 0 1
About two weeks ago, my advice to my viewers was to "wait a little longer" (the red line represents my first idea post on TSL             ). Today, based on my tech analysis, it's time to buy!

The investors who bought in at $13.13 I believe are the lucky ones who were able to buy at the bottom of this short term trend.

Based on the MFI             chart, TSL             bounced off the 25 level and made its way up crossing over the 50 level. To me, this provides a VERY bullish signal for the stock price to move higher.

In addition, OBV chart continues to show steady accumulation at current price levels. I would like to see it move up a little higher, which will indicate a stronger bullish signal.

Also, based on the classic MACD , you can see that the 12-day is about to reverse and cross the 26-day. Once again, evidence of a higher move on stock prices.

Assuming fundamentals stay at status quo and that earnings and future guidance stays within expectation (Earnings are coming up!), we should see a nice techinal move up in stock price.
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