[isatrader]

CSIQ has changed to Stage 3- as the technicals have improved, and so the Stage 3 could soon be averted.

The earnings based move in CSIQ on Wednesday, saw a strong volume recovery day, and it now looks as if it will test the top of it’s low Stage 3 range that’s developed, which if successful could lead to a further test of the 2014 highs and potential Stage 2 continuation.

If you look at the monthly chart, you can see that on the longer timescale that the last six months has been it's first monthly significant pullback around the 10 month MA. Volume has contracted each month through the pullback and it's still a long way above it's strongly rising 30 month MA. And so from a longer term perspective it looks to be a healthy pullback/consolidation to digest the exceptional run it had in 2013.

Definitely one to watch...