Don't Ignore This Chart!

First Solar (FSLR) Spots Some Sunshine

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First Solar (FSLR) has been beaten down for a while. Last week finally delivered a huge up day with lots of volume accompanying the move. Some of that volume was short sellers covering but the chart is getting ready to test breaking through a year long trend line. The SCTR is also pushing above 50 for the first time in a year. The relative strength in purple is still weak so that is a negative. We would like to see this starting to make three month highs. Below the chart the volume candles are starting to perk up recently. Perhaps the down trend is dying and the stock is about to get its day in the sun.


With the stock starting to catch some rays of sunshine, this looks like a great time to check this chart! Have a good week!

Good trading,
Greg Schnell, CMT, MFTA

 
Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA). Learn More
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