Elephant Talk Communications Corp (NYSEMKT:ETAK) Down 16.67%, ReneSola Ltd. (ADR) (NYSE:SOL) Down 7.69%

Posted by Michael Korte May 27, 2013 0 Comment 1153 views

Northern, WI 05/27/2013 (GDPInsider) – Elephant Talk Communications Corp (NYSEMKT:ETAK) is down 16.67% after starting the day’s trading at 0.95, 0.13 cents below the previous close of 1.08. Volume is 1,091,720 million shares, a significant increase on average volume of 212,613 shares. The stock has a range of 0.85 and 1.00 and current market valuation has taken ETAK 60% below its 52-week high of 2.25. The stock is however, up 16.88% on its 52-week low of 0.77.

The technical chart for ETAK shows that despite the dip in today’s trading, the stock is recovering from steep drop recorded early May 2013. ETAK took a considerable blow last week when it received a notice of non-compliance from the NYSE MKT. The noticed highlighted “sustained losses which are so substantial in relation to its overall operations, or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the NYSE MKT, as to whether it will be able to continue operations and/or meet its obligations as they mature.”

ETAK has a RSI of 35.67 and is trading 18.14% below its SMA20.

Is ETAK a solid investment at these levels? Get exclusive data and trends here.

ReneSola Ltd. (ADR) (NYSE:SOL) started trading today at 2.32, 0.02 cents below its previous close of 2.34. The stock is down 7.695 on trading volume of 2.607 million (average volume being 1.286 million). SOL’s range for the day is 2.07 and 2.47 and current market valuation has taken the stock 27.76% below its 52-week high of 2.99. SOL continues however to trade above its 52-week low, with present market valuation showing an increase of 100.00% on its 52-week low of 1.08.

The technical chart shows a southward trend however, recent gains means that the stock continues to trade 8.57% above its 20-day simple moving average and 26.02% above its 50-day simple moving average.

SOL recently took an important step towards strengthening its position in the solar space after it received news that its Virtus I and Virtus II modules have both obtained JETPVm certification from the Japan Electrical and Environment Technology Laboratories (“JET”). JERT is a government-backed certification body which oversees testing of electronic products as well as factory inspections.

SOL has a RSI of 54.75.

How Should Investors Trade SOL Now? Get exclusive insights and updates here.




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About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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