First Solar has been in a clearly defined downward trend since between May and August of 2016. As of the close on May 12, this stock is at the top of the cycle which is near a strongly established resistance. The projected future movements are highlighted below. When we take a look at other technical indicators, the relative strength index (RSI) is at 81.4842....
I only Day Traded FSLR today, Not the close I was looking for!
Started position at Green, Scale in at Blue, Sold at Red. Looking for direction
FSLR broke weekly downtrend the first time in a while, bought calls this morning, but spreads were huge. love to see a retest and buy again.
Up with decent volume. ER 05/02. Will be great if 30 is broken. P.S : I am long (May 30C)
the price is in a clear demand zone with confirmation.
Sideways consolidation has me looking at this chart as bullish. We could see a move up to $32. If at all we close below $25, I will stop out.
Daily MACD crossed over as of Monday (4/10/2017) with higher than normal volume. Bullish volume seems to be higher than average the past few days. Looking at the Fib Retracement line from the most recent high on February 27, 2017 to the most recent low on 4/6/2017, I believe the next short term price target is $28.72 (which is also a resistance line on the daily,...