FLSRShould be hitting support at 56.40, the closing high in June, and the 50SMA getting close. Decreasing volume on sideways price action, which is bullish after such a big run-up. Also got the NASDAQ hitting its support trendline Thursday and a good day Friday. Possible uptrend next week with a new high. Fibonacci retracement isn't giving good areas of support. Looking to buy when the price breaks 56.4 and finds support on an intraday chart. Ignore Fibonacci retracement.
FSLR trade ideas
FSLR Breakout On Multiple Fronts Suggests Higher Prices in 2014FSLR looks coiled up and ready to spring up into the $80-$100 range soon.
It has already broke out above the Cup and Handle pattern, as well as the Head and Shoulders pattern created by the weekly closing values and just retested that line.
First Solar, Nearing Double Top & Key Gap FilFirst Solar, Inc. $FSLR is shooting higher today. Solar stocks have been one of the hottest sectors of late and First Solar is on fire. While most average investors are buying into this epic move, wise traders and investors are noting the nearing double top and gap fill. Please note the chart below. This stock will be a classic short at $56.50. It can be taken as both a day trade and swing trade.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com