Christiania Securities keeps "buy" on Norwegian REC
(ADPnews) - Sep 14, 2010 - Christiania Securities has confirmed its "buy" recommendation on Norwegian solar group Renewable Energy Corporation ASA (OSL:REC), based on a technical analysis.
The share price has marked a strong growth so far in September 2010.
"In the short term, the share has created several bottoms around NOK 15 and has given a clear short-term buy signal at breakout through some NOK 18 on high volume. There is some resistance at NOK 21 and a strong resistance at NOK 25-26," the brokerage said.
The share price target was set at NOK 21 with a stop loss at NOK 17.75.