JA Solar (JASO) is moving up in pre-market trading on news the company is raising guidance for the 3rd quarter and now sees shipments at 410MW vs the previous guidance of 375MW. That would represent a 32% jump over the previous quarter and a 131% jump over the year ago quarter. They’ll report official results on November 9th.
Shares of JASO have been on a torrid run over the past couple months and have been digesting those gains recently. Despite today’s positive news and pre-market bullishness, I still think JASO needs to test the 50 day moving average at some point around the $8 level.
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