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Suntech Power Holdings Up 12.2%, Shares Break Through Resistance (STP)
Feb 09, 2012 (SmarTrend(R) Spotlight via COMTEX) --
Suntech Power Holdings (NYSE:STP) is one of today's best performing low-priced stocks, up 12.2% to $4.32 on 2.3x average daily volume. Suntech Power Holdings has traded 8.4 million shares thus far today, vs. average volume of 3.6 million shares per day. The stock has outperformed the Dow (12.2% to the Dow's 0.1%) and outperformed the S&P 500 (12.2% to the S&P's 0.1%) during today's trading.
Suntech Power Holdings Co., Ltd. designs, develops, manufactures and market a variety of photovoltaic (PV) cells and modules.
In the past 52 weeks, shares of Suntech Power Holdings have traded between a low of $1.70 and a high of $10.83 and are now at $4.32, which is 154% above that low price. The 200-day and 50-day moving averages have moved 1.56% lower and 2.75% higher over the past week, respectively.
Suntech Power Holdings (NYSE:STP) is currently priced 48.3% above its average consensus analyst price target of $2.23. The stock should hit resistance at its 200-day moving average (MA) of $4.85, as well as support at its 50-day MA of $2.78.
SmarTrend recommended that subscribers consider buying shares of Suntech Power Holdings on January 11th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.92. Since that recommendation, shares of Suntech Power Holdings have risen 31.8%. We continue to monitor STP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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