10 good reasons not to be short FSLR (technically speaking)
1) It is in a Stage 1 Basing pattern. Also known as the accumulation phase.
2) Volume is expanding throughout the base.
3) It price is trading over the 50,150 and 200 day simple moving averages.
4) The 30 week (150 day) moving average is trending higher.
5) Definitely finding support at the 10, 20 and 50 sma's.
6) The MACD is trending and holding above the zero line.
7) The MACD Histogram is making higher lows beneath the zero line.
8) The Relative Strength Index vs the S&P is trending higher.
9) Chart pattern has formed an Bullish ascending triangle with a successful back test.
And finally # 10) The Stochastic in the daily time frame is just about to the oversold level and the breakout point is right around $26.
So if your short this horse....you don't have a whole lot of time to get off.
Good Luck everyone!
Agree. I just don't understand what hocus pocus that the shorts are thinking is going to happen to cause this thing to go against all the positives. One big announcement and we will be sitting at 30 in short order. Granted... if the market does a swoon dive, we are all sunk no matter what we have in our portfolios, but I think even then, FSLR will be down less than most.
I see the idiot brigade is out in force this morning. Many things can happen to drop the stock price, and we've seen it all before - project delays, limited new project announcements, warranty issues. Its all happened before and can happen again. Take off the rose colored glasses Alice. But worse we have board officer, who claims to be an engineer, yet doesn't understand that solar does not displace oil and that oil and solar stock prices are not correlated, but somehow FSLR will be "hedged" by the war in Israel. And you guys wonder why I'm short ? LOL