Canadian Solar Inc. (NASDAQ: CSIQ), a designer, developer and manufacturer of solar wafers, cells and solar module products that convert sunlight into electricity for a variety of uses, is up sharply in mid-day trading today. CSIQ is gaining momentum after the company announced the completion of purchase of two solar projects totaling 24 MW (DC) from SunEdison Power Canada Inc. The company also has the ability to complete a purchase of two more utility-scale solar power projects in Ontario, and an option to acquire a fifth solar project at a later date, subject to certain contractual conditions.
CSIQ is currently trading 4.45% higher at $3.52 on volume of 341,931. CSIQ has had an excellent run for over a month now. In the last one month, the stock has gained more than 31%. The stock could face resistance at around $3.60. If it breaks through this level then the upward momentum will continue.
Active Network Inc. (NYSE: ACTV), a provider of organization-based cloud computing applications serving a range of customer groups, is gaining in mid-day trading today. At last check, ACTV was trading 3.19% higher at $4.85 on volume of 765,008, which is below the daily average volume of 815,793.
ACTV currently faces resistance at around $5. A strong bullish trend will be established if the stock breaks through this level. The next resistance level for the stock after $5 is at $5.50.
ACTV last week announced that its Business Solutions Group reported major successes for customers using their event management technology solutions for business events.
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