For some reason, I'm all about the price-target cuts today - maybe it is the weather. This morning, Jefferies lowered Frontline's (FRO: sentiment, chart, options) price target to $26 from $36, maintaining its "hold" rating on the shares. Just like this morning's price-target cut and subsequent rally for Ascent Solar , FRO is nearly a percentage point higher. The rally has FRO trading in the mid-26 region, which is above the price target. As I noted with ASTI, we could see this region provide support for the stock. Of course, as I type these words, the stock turns negative ... go figure.

Although the stock is now negative, it remains in the lower 26 region, so let's see where it finishes the day. Watch for some yo-yo action, but I am willing to bet that the stock will not rally beyond the 30 level any time soon. Why? Not only did this level provide support in the past (meaning it could switch roles and act as resistance), but it is also the residence of FRO's sharply descending 10-week moving average. The stock has not topped this trendline since the middle of July, and I'm guessing that it may be a while before it happens again. Of course, in order to hit this trendline, the stock will have to rally nearly 15% ... not a bad return if it happens.