The USD 25 support, currently tested, should allow Canadian Solar to rally again.

From a fundamental viewpoint, Canadian Solar seems undervalued in terms of enterprise value. Based on the current price, its market capitalization, plus its net debt, represents 0.65 times its revenues.
This valuation is only 6.85 and 5.37 times the two next years earnings.
Moreover, recently, EPS estimates for the two coming years have been revised upward by analysts. This positive fact opens the way for a better security evaluation by investors.

The security follows a downward trend in the short term, under the USD 32.8 resistance area.
In the mid-term, the trend is neutral. Canadian Solar is not likely to continue its downtrend because it is near to a strong trend line support.

Therefore, the proximity of the USD 25 support and the trend line contact is an opportunity to go long on Canadian Solar. The first target is a return in the USD 32.80 resistance area. In fact, the security has to cross this area in order to re-establish a bullish trend in the short term. A stop loss order can be placed under the support currently tested.