The_Patterns_Guy
Long

FSLR Breakout Pick of the week

NASDAQ:FSLR   FIRST SOLAR INC
Love this stock. 6 RR ratio! FSLR             has formed an ugly rectangle bottom with a potential parabolic breakout (notice the curve at the end of the rectangle . Volume looks good for continue breakout. Also, scroll down the time frames. Notice the stair step pattern. These are classic signs there is a buy accumulating large stock lots at one time. The broader market has not caught on yet, but once they do this stock will go thru the roof.

15 minute

Daily

What if I am wrong? Well good news, you can define your risk by the either the top or the bottom of the rectangle . If you are a little more tolerant of throwbacks, define your risk by the bottom of the rectangle . If you are less tolerant (like me), define it by the top of the rectangle . I choose the second peak because I wanted to give myself room for a little intra day volatility .

I would suggest doing a nice options calendar spread. Ill probably do one for this coming week, next month and probably end of year. We will have to see how they are priced. Then I can roll up or out as needed.
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