In this morning's Early Edge, I took a look at the upgrade China Sunergy (CSUN: sentiment, chart, options) received from Jefferies & Co. The brokerage upped CSUN to "buy" from "hold," and elevated its price target in the process. Merrill Lynch also upgraded CSUN, elevating that stock to "buy" from "neutral." The stock was pointed higher ahead of the bell, presumably taking out resistance at the 12 level. So, let's see what has happened thus far.

It seems that the 12 level is trying its absolute best to hold as support. Our intraday low for CSUN is 11.52, so this support continues to be tenuous at best. However, if the stock continues to hover around 12, a close above this level isn't out of the question.

If you want more information on CSUN, make sure to check out some of the articles written by my colleagues:

• Stocks Showing Unusually Heavy Volume - Gamestop Corp, China Sunergy Co Ltd, Solarfun Power Holdings Co Ltd, Cyberonics Inc by Nick Perry


• Sentiment Snapshot: China Sunergy Co. Ltd. by Andrea Kramer