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After Yesterday's Rally of 5.15% Shares Could Potentially Pullback

By Nick Russo

Canadian Solar (NASDAQ:CSIQ) traded in a range yesterday that spanned from a low of $13.08 to a high of $13.56. Yesterday, the shares gained 5.2%, which took the trading range above the 3-day high of $13.23 on volume of 665,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, shares of Canadian Solar have traded between a low of $10.25 and a high of $40.08 and are now at $13.35, which is 30% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.7%.

SmarTrend is tracking the current trend status for Canadian Solar and will alert subscribers who have CSIQ in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders canadian solar

Ticker(s): CSIQ