2waytrading

Rising Channel (Bearish)

Short
BATS:FSLR   First Solar, Inc
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Stock was a good buy candidate but recent price activities may suggest the top is not far and ready to roll back to August low last year $26 the rising bearish channel is suggesting even lower price target $20. If price holds one more time $32.3 area moves above last year high, it suggests more higher price is coming. A few areas of interest now, what carefully what happens at $33.50-$33.80 if that is broken a good quick short entry with target price $32 if that breaks the rising support line $30.50 keep your short all the way back to $26-$20 area. Now, either go long above 35.60 or short below 33.50. Join us http://www.woowtrading.net