JA Solar Holdings Bounces Off Target

Mid November 2010, JASO was correcting off a nice run to 10.24 on 10/15/10. The previous post explains the trading scenario for the correction that may have been in place.

Yesterday, JASO traded to the target 6.84 price, which was possibly a wave 4 low for the weekly chart. Today, JASO traded to a low of 6.80 and bounced off this target almost 4.5% so far.

It is possible that JASO is beginning to resolve this long term price target and create a base. If the trend is to continue higher, JASO could trade towards an anticipated wave 5 weekly time frame target of 15.40.

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