On a day when the FTSE finished sharply down, our portfolio provided a mixed bag.

We saw modest gains in Lloyds Bank (up 2.3%) and Ceramic Fuels Cells (up 3.0%) but these were more than offset by the continued retracement of ReneSola (down 5.8%) and the yo-yo-ing, Climate Exchange (down 4.9%).

After last weeks highs of 240 pence, ReneSola has come back to earth a little – closing today at £1.8675 – so I feel justified in taking profit north of two quid a couple of times last week. I think it has a little more left in this retracement before we see support, possibly around the 140-150 pence mark – a zone of recent resistance.

Stop the press! Just checked Renesola (SOL) on the New York Stock Exchange and it’s had a strange old day climbing 35 cents from $6.25 to $6.60 in the last half an hour of trading – possibly on the back of a buy rating from Lazard’s up from $4.00 to $7.00.

After that, you’d think ReneSola would open up in the UK tomorrow, and in a perfect world it just might, but I wouldn’t be at all suprised if we saw a fourth continous day of retracement. Nothing’s a given with ReneSola.

Taking a closer look at some ReneSola candlesticks from the past month, our chartists out there could point you to the beautiful morning star of the 10th June before uttering an all-knowing, “I told you so”.

If only I had as much confidence in my ability to plot the future using charts as I do to show the past – oh well!

Drop back tomorrow and I’ll reveal Investor Trader’s latest value-packed purchase.

Thanks again for dropping by.

Investor Trader does not make investment recommendations. Read our full disclaimer here. If you enjoyed what you've read, please consider signing up for my RSS feed.