Shares of Trina Solar Under Pressure, Down 3.5%


Trina Solar (NYSE:TSL) is one of today's biggest movers, down 3.5% to $7.24. The S&P is trading fractionally higher to 1,267 and the Dow is trading fractionally higher to 12,307.

Potential upside of 19.7% exists for Trina Solar, based on a current level of $7.24 and analysts' average consensus price target of $8.66. The stock should find initial resistance at its 50-day moving average (MA) of $7.36 and further resistance at its 200-day MA of $16.40.

In the past 52 weeks, Trina Solar share prices have been bracketed by a low of $5.28 and a high of $31.08 and are now at $7.24, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone down 2.7% while the 50-day MA has advanced 0.4%.

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.

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