First Solar Fights Higher
First Solar has been fighting higher, and some traders may see further upside.
The first pattern on today’s chart is the December 28 closing price of $173.22. FSLR jumped above that level early in the month and has now pulled back to hold it. Has old resistance become new support?
Second, prices are above the 200-day simple moving average (SMA). The 50-day SMA is also potentially approaching a “golden cross” above the 200-day SMA. That could indicate the longer-term trend is getting more bullish.
Next, MACD recently turned higher.
Fourth, the stock jumped in early November and late February on strong quarterly results. The next set of numbers is due after the closing bell on May 1.
Finally, Reuters reported yesterday that the U.S. will reestablish tariffs on certain Chinese solar products. FSLR is considered a likely beneficiary.
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The first pattern on today’s chart is the December 28 closing price of $173.22. FSLR jumped above that level early in the month and has now pulled back to hold it. Has old resistance become new support?
Second, prices are above the 200-day simple moving average (SMA). The 50-day SMA is also potentially approaching a “golden cross” above the 200-day SMA. That could indicate the longer-term trend is getting more bullish.
Next, MACD recently turned higher.
Fourth, the stock jumped in early November and late February on strong quarterly results. The next set of numbers is due after the closing bell on May 1.
Finally, Reuters reported yesterday that the U.S. will reestablish tariffs on certain Chinese solar products. FSLR is considered a likely beneficiary.
TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit [url =tradestation.com/DisclosureTSCompanies] TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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