No change in view.
As we have observed we cannot manage the steep increase and the channel resistance was respected @ $ 240 handle. We have declined again sharply, the three dark soldiers, and I feel we will test $ 174 again.
Noi change in view, and have traded slightly lower. The pattern suggests in combo GANN support (Black line) and the top of channel, resembles an ascending wedge. This suggests lower levels to be seen. Further, we are overbought, and that's why still SELL strategy preferred.
Strategy SELL @ $ 220-240 and take profit @ $ 181 now (channel support @ $ 176). Break of...
The previous short worked well from $ 210 till profit target $ 174.00. From that point we corrected sufficient for first correction.
Now we have a sharp increase on VOLAR deal, and again we are above GANN support but its too steep to my liking. Further near channel resistance $ 240.00. The SELL strategy is sell current @ 230-240 and take profit again @ 174.00....
Here we are looking at FSLR on the Daily TF…
As you can see, FSLR is currently trading within the expanding channel to the upside. Currently, it’s in the middle of a powerful move of support to the upside. IF FSLR wants to continue its move to the upside, I would expect for it to find resistance at the upwards sloping line, which currently lays at about $248....
The first idea profit objective @ 174.00 was me and we respected the GANN support 173.00 area.
Likely the share will mnove little higher at first, and for that reason we SELL anew again @ 195-205 area and place profit area @ 178.00 for now. For long-term positions, we place profit @ 135.00 for now,.
No change in view.
Overall, one keeps selling into rallies here, even though the run up has been sharp . This does not negate medium-term objective that may reach $ 130.00 again, with interim stop @ 173.50 area. For now SELL current $ 209.00-2.15 window with first profit objective @ 174.00, and re-instate on corrective action again for a move to $ 135.00.
FSLR has been consolidating since the last earnings and has formed a month and a half ascending triangle. Earnings this coming week could be a catalyst for a move higher. One interesting note, there is a gap pending fill to the upside from 2008! Not saying it will fill next week, but maybe in the next few months, a very interesting trade.
This one also very much manipulated, and when we look at the long-term picture, it is quite overdone. Besides we are above Gann resistance levels, and also hammer top. I feel within 6-9 month period we should decline towards $ 120.00 for the share. Therefore, SELL current $ 210 level and place stop-loss @ 240 for now and a take profit at $ 135
The stock is showing a strong green day which could be the start of a breakout from the current bull flag formation.
First Solar's (FSLR) fundamentals support this thesis. The company has a large backlog which will take multiple years to work through.
It can be cheaper to build and run a solar plant than it is to buy gas for existing natural gas power plants....
On the chart, we can see a rising channel occurring for FSLR.
It has been ranging between the levels for almost 3 quarters.
We expect that the price will stay in the channel for a while.
You can buy at the lower boundary of the channel and exit at the resistance, which is the higher boundary of the channel.
Invalidation of this thesis would be if the price closes...
