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Upgrade Alert for Trina Solar (TSL)

By Shiri Gupta

Trina Solar (NYSE:TSL) was upgraded from Hold to Buy at Axiom today. The stock closed yesterday at $10.38 on volume of 1.4 million shares, above average daily volume of 991,000.

In the past 52 weeks, shares of Trina Solar have traded between a low of $6.91 and a high of $13.25 and closed yesterday at $10.38, which is 50% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.7%.

Trina Solar Limited manufactures solar-power products including photovoltaic wafers, ingots and modules. The Company's solar modules provide reliable and environmentally-friendly electric power for residential, commercial, industrial and other applications worldwide.

Trina Solar (NYSE:TSL) has potential upside of 28.3% based on a current price of $10.38 and analysts' consensus price target of $13.32. The stock should find initial support at its 50-day moving average (MA) of $10.05 and further support at its 200-day MA of $9.82.

SmarTrend recommended that subscribers consider buying shares of Trina Solar on July 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.11. Since that recommendation, shares of Trina Solar have risen 26.6%. We continue to monitor TSL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Trina Solar

Ticker(s): TSL