Evergreen Solar (ESLR): Shares cycling in bullish 'flag'

Filed under: Good news, Technical Analysis, Stocks to Buy

Evergreen Solar (NASDAQ: ESLR) develops, manufactures and markets solar power products. Its proprietary String Ribbon technology process is used to make photovoltaic cells that convert sunlight into electricity. These are the primary components of solar panels used to power such systems as highway call boxes, microwave stations, billboard lighting mechanisms and rural electric power sources. Most of the firm's sales involve customers in the United States.

Evergreen had good news for investors late last week. German-based Ralos Vertriebs GmbH signed a $750 million contract for solar panel deliveries, beginning in 2008 and extending through 2013. That boosted the company's sales total over the past two weeks to about $1 billion. Lazard subsequently issued positive comments on the stock, noting enhanced visibility.

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