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Top 5 Performing Stocks in the S&P 500 (FSLR, WFR, CLF, X, AKS)

Published on Tue, 04/09/2013 - 13:13
By Robert Cotter

Below are the top five performing stocks in the S&P 500 INDEX,RTH. These companies should be watched for additional outperformance to the upside.

First Solar (NASDAQ:FSLR) lead the charge up 22.77% today, well above the S&P 500's return of 0.59% thus far. Just behind are shares of MEMC Electronic Materials (NYSE:WFR), which is up 10.30%.

Rounding out the list of outperformers are shares of Cliffs Natural Resources (NYSE:CLF) and U.S. Steel (NYSE:X), which are up 8.06% and 4.82%, respectively. Finally we have AK Steel Holding (NYSE: AKS) up a respectable 4.69% on the day.

First Solar, Inc. designs and manufactures solar modules. The Company uses a thin film semiconductor technology to manufacture electricity-producing solar modules.

Based on a current price of $28.97, First Solar is currently 10.8% above its average consensus analyst price target of $25.85. The stock should discover initial support at its 50-day moving average (MA) of $28.92 and subsequent support at its 200-day MA of $24.56.

By Robert Cotter