Energy Stock Bull

 MEMC Electronic Materials (WFR) makes silicon wafers used to manufacture PV solar cells. Demand for wafers has been increasing recently as sales of solar power cells increase.

Having started selling wafers to solar power customers only in 2006, MEMC now has more than $15 billion in orders for solar wafers for delivery over the next 10 years.

 Canadian Solar (CSIQ) is another solar stock that I am bullish on, with an ascending triangle formation:

First Solar, Inc. (FSLR) has been featured several times on this blog. While I think that it may be due for a pullback soon, I am still bullish in the long term on this company’s prospects. As you can see, it’s had a fantastic run this year:

First Solar, Inc. (FSLR) recently broke out of an ascending triangle formation. Resistance has become support at around 220. First Solar has gone on an amazing run over the past few months and could be headed higher.

Keep this one on your watchlists.

LDK Solar Co. (LDK) should be hitting resistance around $60. There may also be a pullback from the massive gains over the past few days. I’d definitely take some profits at this point.

LDK Solar Co. (LDK) looks like it’s breaking out of it’s downward channel:

Looks like the stock found some support at ~27, as I mentioned in my previous post.

LDK Solar Co. (LDK) is a solar company based in China that manufactures and sells multicrystalline solar wafers to manufacturers of solar cells and solar modules in the PRC and internationally. The company went IPO a little over 6 months ago and showed a strong uptrend, trading in a channel until October where it began a quick reversal. Despite the bull market in China, this stock has continually dropped lower and lower, and I don’t think the bearishness is over yet. Should find support at ~$27 levels.

Fuel Tech, Inc. (FTEK) was recently featured in Yahoo! Finance’s “Babe Ruth Portfolio.” Fuel Tech is a leading provider of clean energy technology and solutions to the engineering industry, and has recently formed a partnership with Itochu which gives it a platform to launch into the Chinese market, which will definitely be in need of Fuel Tech’s technology in the coming years. The Babe Ruth portfolio analysis shows the following:

Business Risk: Average
Economic Moat: Narrow
Price/Fair Value Ratio*: 0.63
Consider Buying: $40.90 or below
Consider Selling: $66.40 or above

Here’s a look at the stock chart:

I’m definitely going to keep this one on my stock watchlists.