Daqo New Energy (DQ) Raises Q4 Guidance, Announces Expansion

Posted by | # |
09:13:18 am on January 6, 2011

Daqo New Energy (DQ) will have another good day today.  Yesterday, the company was initiated at Buy over at Roth capital with a $15 price target and this morning the company is raising Q4 guidance and announcing expansion plans.  They are raising their Q4 shipment guidance from 825 – 850MT to 930 – 950MT and revenue guidance from $65 – $69 million to $75 – $76 million.  The company also announced plans to build its Phase 2 polysilicon production facility which is expected to begin production in Q3 2012.

==> Click Here For Your FREE Daily DQ Analysis

Technically, I believe shares of DQ have bottomed out around the $10 level given yesterday’s high volume surge and this morning’s gap up.  The stock is likely to form some kind of cup with handle base, with a proper entry point coming on a break out above a handle formation.  I personally added a small position yesterday morning and will be looking to add to my position on a handle breakout move. 

Tags: ,
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.


No comments yet.

Leave a comment