FSLR generally tracks closely to QQQ's, and recent divergence is temporary in my opinion
While its possible that the QQQ's break to the upside and exit their bear market, the more likely scenario is for the recent bear market bounce to fizzle out and we'll at least see a re-test of June lows.
repeat of June 03-16 would be 17% decline for FSLR --which puts it at...
Patience with this junior is about to be rewarded. RSI bottomed, and bouncing off lower trend line.
Near term (as a trader), I predict similar explosive price action like May '22 or Dec '19 (overlaid here) - which interestingly would get us a topside breakout (and retest) from the pennant formation its in now. Or maybe we continue to bounce around in this...
Pretty close to if not already at bottom. Maybe a repeat of price action from Sep 2015? Strong USD apt to continue to pressure silver price for a bit longer
last time FSLR made such a steep 100%+ run was back in May/June 2007. Here, I tried overlaying the price action then with this recent run, with an eye to possible near term resistance at $139
note then the protracted dwell of RSI above 70, followed by ABC 50% retracement before mooning.
looking VERY extended here .... % distance above 50-day MA hasn't printed this high since May 2013. RSI also uncommonly high and loitering over 70 longer than normal.
decent short term setup for quick short play: to $116 ? After that, I could see it making a quick bounce back up to $129 that will shake out the shorts, then test $107 area? maybe more? ...
difficult to TA this due to small timeframe. Appears to be classic broadening wedge pattern? With at least a relief rally in junior miners and gold, more likely that this goes topside.
fundamentally, lots of potential. Things I like (as a patient metals mining speculator with 3-5yr time horizon):
- US jurisdiction (Nevada)
- NYSE 'American' listed (what used...
