Read the latest interims.......just make sure that you are sitting down.

Well the fund raising I predicted is about to happen leading to yet more dilution.....


WASHINGTON, Jan 9 (Reuters) - China's ReneSola Ltd filed with U.S. regulators on Wednesday to raise up to $200 million in an initial public offering of American depositary shares.

The manufacturer of solar wafers said in a filing with the U.S. Securities and Exchange Commission that Credit Suisse, Deutsche Bank Securities, Piper Jaffray, CIBC World Markets, and Lazard Capital Markets are underwriting the IPO.

ReneSola did not disclose details such as how many ADSs it plans to sell or their expected price. It said it plans to list its ADSs on the New York Stock Exchange under the symbol "SOL". (Reporting by Karey Wutkowski)

And from another report this evening.....


The company said it is taking steps to correct material weaknesses and deficiencies in its internal control over financial reporting, including a lack of adequate financial reporting and accounting resources for the demands of a U.S. IPO.

this could explain why SOLA sp is holding up so well ..... real indian rope trick stuff

well I looked at the chart over last 3 month's using 50ma and 200ma, it told me that sp is above both, I have no idea why and I have no idea when I would short this stock. Doesn't make sense to me.

chart is certainly pretty congested down to 420, so if sp dropped quickly through that level then surely a def signal .... if you track back, you'll also see a much more informative note from PTH on this subject .... can't remember his conclusion

found it - post 207 .... if i have read that correctly, PTH reckons break is about 430 .... not much dif really

thanks cynic, looking at pth thread 201 I think he is as perplexed about SOLA as we are. I will split the difference and keep an eye on 425.

Noticed my name mentioned so thought I would add a few thoughts.

1. The SP has broken through the orignal downtrend (green dashed line) and when (if) there is a pull back this may provide support.

2. The recent push through 500p has created a new downtrend res line. If it does go up keep an eye on this, a breakout should signal a conitnuation of the recent uptrend.

3. If the SP falls watch the latest uptrend support line, if it falls through 4 with any momentum I can see $3 on the cards.

4. Looking at the MACD, the push through 5 created negative divergence on this indicator and from this alone I would expect any rise back to 5 is unsustainable and a shorting opportunity, unless of course it can break out.

5. Looking at the RSI, there is again a res line (falling) which may 'trap' any rise, but also some support.

6. Both the chart and the indicators are tying in quite nicely and any move up or down will be reflected in all at the same time, couldn't ask for much better confirmation however you look at it. Volumes are also quite small and have been for a while, another reason to think that the uptrend is not supported.

Personally I think it's a short with a stop slightly above 5, although it may just be a tad early to get the best entry.

pth

SOLA is looking more and more like a short ...... i get the feeling that sp is being artificially supported whiole SOLA tries to get $200m offering taken up on Wall Street .... in fact, given the present conditions, i guess its's far from impossible that that will be pulled as unfeasible

I'm no expert in charts, but would it be fair to say that a price to short would be a fall below 410. The 200ma is at this level now, and you can see the last time the sp fell below 200ma was at 400p in mid November it went down to 338p.

read Peter's comment above .... he uses more sophisticated charts

Shorting off the 200MA in this particular scenario could be quite dangerous, take a look at my chart, trendline support immediately below.

200 dma is about 435 .... all dma broken at about 420

But rising lows since autumn intact in volatile markets.

are you still long? ..... i am neither long nor short

Yes for the time being, hoping to ride out this instability. Considering it's been pretty robust in the last few months.

it has indeed, but you may want to read some of the earlier recent posts re improving clarity etc etc ..... my own view, as posted earlier, is that sp is being supported by no more than smoke and mirrors

Up to speed with the reading, if not the posting. I'm just having a different view on this (and other solars) of late.

certainly PVCS are doing ok-well considering the general bloodshed

thanks for the help cynic & pth I can see the trendline support below 200ma now.