TRE.TO Sino-Forest and JASO: JA Solar, profit targets

Rarely fib levels through time work in my opinion however, this move in very interesting.  The impulse wave from July 2010 to Dec 2010 encompassed 2 time fib levels, the correction was exactly within the 3rd time fib level.  If this is true, then we could conclude that an impulse phase has just begun. 

Another interesting fib relation is the fib fan.  Connecting the highs provides the baseline and the fan draws straight lines that are spaced using fib %.  The bottom two lines provided support for the pull backs during the correction phase.

Baring any full blown collapse of the equity market, I would expect a move past the 24.00 level.  Currently holding 23 strike price April call options so I will look to take profits when the 24.00 level is breached hopefully some time this week.

The support JASO is currently hitting dates back to the first half of 2010.   After 5 months of correction it appears that solar plays might be back in impulse mode.  I would consider a serious position if the 200 MA and 50 Ma get reclaimed within the next week or two.

Potential déjà vu, which would indicate that the buyers in mid March are back buying at the same level as they were.   Tomorrows volume will confirm that there are buyers willing to strongly purchase JASO at the 6.52.