$FSLR has had a very good run since Santa Claus visited the Stock market last Xmas
. The question here is Will it have the strength to go for the previous all time high levels it had in the past? In Wall St
there are no straight lines. It is bullish
, but in order for it to break the previous week levels it needs more momentum, which is already declining and entering into a negative momentum divergence (Higher prices, lower momentum) which usually is a sign of a reversal. It makes sense it will retreat until the support levels before trying to go higher.
The technical indicators show extreme conditions, overbought, overextended distance from the moving average, negative momentum divergence, lower volume
levels, reaching Resistance levels.
These signs flash a reversal warning. Earnings
is the closest triggering event. The market doesn't seem to care how the report beats the estimates lately. After these indicators my forecast is there will be a bearish
leg that will be used by the market to test the support before trying to breach the ATH