Here we are looking at FSLR on the 1 Month TF…
While I don’t normally post ideas from this zoomed out on the chart, I thought I would briefly share this fun idea that I came across.
As you can see, we are analyzing where FSLR is currently, in reference to it chart history dating back to major support breakdown in 2011.
What I found interesting, is that if...
Solar energy is one of the leading technologies in the renewable energy industry. It is slowly eating away the oil industry's market share in energy production. Through economies of scale, the cost per unit decreased significantly over the past decade so there is a chance that First Solar might eventually break its all time high.
From a technical standpoint it is...
Here we are looking at FSLR on the Daily TF…
As you can see, FSLR has been trading within an ascending parallel channel, with clear upwards sloping support and resistance. It has been trading within this rising channel since October of 2022, but I am expecting a breakdown from this structure in the coming days.
Ascending channels (as such) are bearish in their...
Price remains above the .236 of the trend up.
FSLR has met targets to the upside plus some.
Earnings are 2-28 AMC.
Short interest is around 3.9%
No recommendation.
(I can not find the harmonic pattern anywhere that has a 4th leg terminating at the 1.414, but there have been a lot of these in the recent market. 1.414 is the square root of 2. I call it a W...
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...
First Solar has a nice trend in yearly scale, and lately had embarked in a series of powerful rallies in daily, weekly and monthly scale, since the Inflation Reduction Act vastly improved the outlook for the company.
I'm inclined to go long on any trend continuation signal, but also being mindful of potential corrections that might trigger in the short term...
About First Solar
First Solar, Inc. is an American company which manufacturers solar panels and offers utility-scale PV power plants as well as related services like financing, building, upkeep, and recycling of used panels. For its solar panels, First Solar uses stiff thin-film modules and creates CdTe panels using cadmium telluride (CdTe) as a semiconductor....
Monthly and weekly charts are very important to look over, I'd check this out right here.. Solar can still have steam ahead for the next year or so.
Lines are just fib levels
“Discipline is only difficult when you look at it as something unenjoyable. When you re-frame cutting losses and celebrate avoiding a large loss and freeing up capital for a better trade, suddenly having discipline becomes second nature and being undisciplined becomes painful.” ~Mark Minervini~
Straight to the point, looks like FSLR is forming a Bearish RSI divergence (where price is making higher highs, and RSI indicator is making lower highs). Additionally, RSI is also at 71.45 which is somewhat high (overbought).
Unless we break the marked white support trend line on the chart, the price should start making a downward movement to the support areas...
I am now moving into puts in FSLR as of this morning >look to move to a net short at 75 % in the money puts look at 2023 puts only .We should a rather large drop back to 100/115 easy
