First Solar (FSLR) has been down and out for a while. The SCTR ranking has been below 10 for a long time. The SCTR started to surge in early May but fell back. This week it kicked back up to 85. With Friday's high close, FSLR is starting to generate some price power.
With new volume hitting the stock recently and the MACD turning up while above zero, this looks like a stock that wants to move higher.
Greg Schnell, CMT, MFTA
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About the author:Greg Schnell, CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis.
Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter.
He is also the author of Stock Charts for Dummies (Wiley, 2018).