Maybe Long?The paper corrected to its previous low. Upside: +20%. In case of a breakdown of the support level, a 10% drop There will be room to average out if not to exit on the stop.
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F3A trade ideas
10/31/21 FSLRFirst Solar, Inc. ( NASDAQ:FSLR )
Sector: Electronic Technology (Electronic Components)
Current Price: $119.59
Breakout price trigger: $118.00 (hold above)
Buy Zone (Top/Bottom Range): $117.40-$111.50
Price Target: $113.00-$135.50 (1st), $175.40-$178.00 (2nd)
Estimated Duration to Target: 21-23d (1st), 78-84d (2nd)
Contract of Interest: $FSLR 11/19/21 120c, $FSLR 1/21/22 150c
Trade price as of publish date: $5.70/contract, $2.07/contract
FSLR looks ready for a push to all time highsFSLR has the best relative strength out of the big solar names such as SPWR, JKS, CSIQ, RUN, ENPH, & the solar ETF TAN. While these other names were in a downtrend, FSLR held up quite nicely and has a ton of time at price in the range 92-96. It appears it was set to breakout mid September but the recent market correction caused a temporary pullback to its accumulation down.
This structure is similar to ROKU's back in September 2020 when it tested all time highs after building a long base in the 150 range. Once it broke it out, the market had a correction which caused ROKU to go back down to it's base before breaking out for real when the market let off the pressure.
Technicals say go long (maybe)Nice infrastructure play with an inverse head and shoulders forming. The tax on competitors products, who produce their products in Vietnam/ Thailand area to get around the Chinese tariff, would be ideal as FSLR is all homegrown. Expansion to India along with the catalyst of the infrastructure bill should see this bad boy move north if the market doesn't decide to flips its head on this current bounce. Filling the gap aside, nice inverse head and shoulders, technicals curling and FV estimate of 113.61~. Have a position and here is to hoping its game time!
FIRST SOLAR, INCshort term opportunity ( seems impossible to take this down 30% from the current price but who knows ? only risk 4% from the current price to take the maximum target ),
have been trading inside the huge down trending market which push it to the downside , have rejected at the major resist and also a rejection to the top of bearish flag , we will see how price react to the market for an entry zone .
we will never know how the market works.
ABC BullishPossible stop below C.
ABC is a corrective, or a pull back pattern. A retest of C occurs frequently and if price goes too far below C, then often best to stay out. C often occurs between the .786 and .618 of the AB leg. Targets are calculated using the AB leg and fib levels. The target is D.
Looks like earnings were received well.
No recommendation