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Trade idea: The solar industry looks bright
Beijing-based trader Fredrik Oqvist, Founder of ChinaRAI, is looking to long the solar industry, and is spending this week looking at entry points withing this sector. He is particularly interested in Guggenheim, Yingli and Trina, as these three companies are "bigger and stable" providers.
Fredrik says "we’re approaching the key months for entering this trade", as when winter hits in China, the air "gets worse", which means "solar gets a good shot in the arm" as it starts getting more positive media attention.
On a technical side, Fredrik says we are expecting a pullback, and his strategy will be to buy into this.
Looking at the Guggenheim Solar ETF, he says that last year he saw a "pretty good development from an investment point of view from mid-November. As a result, he is looking to enter at 37.19 and his target is 40.9.
He is also looking at the two major Chinese solar exporters Yingli and Trina. He plans to enter Yingli at 7.93 with a target of 8.80, and for Trina, his entry point is 16.28 and his target is 18.2.
Read more about Fredrik's predictions here:
http://www.tradingfloor.com/posts/china-finance-winter-coming-long-solar-smog-descends-1368570228
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01:42 minutes
Tags: beijing, beijing hong kong, china, chinarai, chinese economy, chinese solar exporter, economy, energy, energy industry, energy market, equities, equity, etfs, exports, fredrik oqvist, guggenheim, guggenheim solar etf, investing, investment, market, markets, profit taking, proft, solar, solar etf, solar exporter, solar industry, solar provider, stock market, stocks, trade idea, trader, trading, trading risks, trading techniques, trina, yingli