Clutching At Straws? – Emerson Electric Co. (EMR), Canadian Solar Inc. (CSIQ)

The stocks of Emerson Electric Co. (NYSE:EMR) has been Downgraded as a Market Perform from Outperform by Cowen in its latest research note that was published on November 06. EMR was given a price target of$72 by Cowen, with other Wall Street analysts also giving their reports regarding the stock. The stock also received a Sector Perform to Outperform rating from RBC Capital Mkts with the price target of $65 to $77. This was contained in a research note published by the firm on September 30. The stock received a Buy to Hold rating in Argus’s research note that was published on August 13.

EMR surged by $0.69 during the normal trading session on Thursday and reaching a high of $74.29 during the day while it closed the day at $73.79. The Emerson stock had a low trading volume of 2.42 million shares on that day, which is low compared to the average daily volume of 3.17M shares. EMR has also gained 5.19% of its value over the past 7 days. However, the stock has surged by 24.06% in the 3 months of the year. Over the past six months meanwhile, it has gained 10.25% while it has added 23.50% year-on date.

Shares in Canadian Solar Inc. (NASDAQ:CSIQ) jumped over 1.24 percent on Thursday. The company’s stock began trading at $17.18 above the previous closing price of $16.97, and finished the day at $17.12. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -31.02% from its 3 months high price. However, taking another look at CSIQ will indicate that it is trading +2.39% away from its 90-day low. Looking at the bigger picture, the Canadian Solar Inc. stock has dropped by -33.87% from its 52-week high while it has surged by +29.31% from its 52-week low price.

Let us now take a quick look at the stock’s short, medium and long-term indicators. Composite Indicator shows that CSIQ stock was rated as a Sell by TrendSpotter. Its short-term indicators reveal that Canadian has a 20-day average volume of 620350 shares. This has led to the CSIQ price forecast being placed as a 100%Sell on an average basis. In the medium term, however, the CSIQ stock has its 50-Day average volume of 681844 shares, with the indicators also rating it as a 100%Sell. Finally, in the long-term, the CSIQ stocks have a 100-Day average volume of 691461 shares, with the long-term indicators rating the stock as just 50%Sell.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 5.59%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 17.24%. Over the past 20 days, Canadian’s Stochastic %K stood at 17.3% while its Stochastic %D was revealed to be 18.95%.