First Solar has been climbing since last summer, and some trend followers might have noticed its recent pullback.
The main pattern on today’s chart is the price zone around $162. It was initially relevant as a high in early November. Prices bounced there a few weeks later and knifed below it the following month. The stock rebounded in early 2023 and rallied to new highs.
FSLR then proceeded to pull back and is now trying to stabilize near the same price area.
The level also corresponds to roughly a 50 percent retracement of the rally between January 5 and January 17.
Next, prices are back above the 21-day exponential moving average (EMA) and 50-day simple moving average (SMA). That may suggest FSLR is ready to resume its uptrend.
Finally, notice how MACD has turned positive again.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.
The main pattern on today’s chart is the price zone around $162. It was initially relevant as a high in early November. Prices bounced there a few weeks later and knifed below it the following month. The stock rebounded in early 2023 and rallied to new highs.
FSLR then proceeded to pull back and is now trying to stabilize near the same price area.
The level also corresponds to roughly a 50 percent retracement of the rally between January 5 and January 17.
Next, prices are back above the 21-day exponential moving average (EMA) and 50-day simple moving average (SMA). That may suggest FSLR is ready to resume its uptrend.
Finally, notice how MACD has turned positive again.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
Important Information
TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means.
This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates.
Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com/important-information.