Don't Ignore This Chart!

First Solar Starts Generating Some Power (FSLR)

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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.

Good trading,
Greg Schnell, CMT, MFTA

 

Announcement from the Author

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Greg Schnell
About the author: , 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 an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined StockCharts.com in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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