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First Solar, Inc. Message Board

  • luckyone581 luckyone581 Dec 24, 2012 9:31 AM Flag

    Xmas Present

    I want to take this opportunity to wish all of you a very merry Xmas.

    Below is my gift to you in the form of a chart evaluatioon on FSLR I did this weekend.

    "FSLR generated the first red weekly close in the past 5 weeks suggesting that a correction may have begun. The stock did close on the lows of the week and further downside is expected to be seen this coming week with the $30 level as the first objective. No support on the weekly chart is found until 25.29 is reached. On the daily chart, some support is found at 29.29 but below that no support is found until the 50-day MA, currently at 26.25, is reached. The stock gapped down on Friday between 32.12 and 31.75 and with no news to cause the gap it will likely be closed. The most probable scenario is a drop down to the $30 demilitarized zone (29.70-30.30) and then a rally back up to the 32.70-33.15 level. What action happens thereafter will likely depend on what happens with the Fiscal Cliff".

    Good Luck

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    • Hi Lucky One,

      Do you mind to share which charting tool do you use?

      Thanks

      KTrader

      Sentiment: Strong Buy

      • 4 Replies to ktrader01
      • When I was an analyst for Pru-Bache in the 80's I used to use all technical trading tools including (RSI, Stochastic, Bollinger Bands, etc). Nonetheless, I found them to be generally unreliable and not offer specific entry and exit points.

        I now mainly use charts and Moving Averages. I use the weekly chart to determine mid-term trend, the daily chart to determing short-term trend, and the intra-day 10 and 60 minute charts to determine best entry and exit points.

        I still look at the other technical indicators to confirm the probabilities of a trade being successful or not, but not for choosing the trade or entry points.

        Nonetheless, I must admit that using charts does require some knowledge of what the big professional traders are looking to do. I traded on the floor for 2 years in the 80's and learned about what the day and short-term professional traders are looking for. This is not something you can learn easily without being personally on the battlefront. Traders still look to take out stops, create traps, and generate some chaos and if you do not take that into consideration you will be hurt.

        Those are the tools I use.

      • I have answered your question twice but for some reason the answer is not appearing on the message board. I will try again later on.

      • When I was an analyst for Pru-Bache in the 80's I used to use all technical trading tools including (RSI, Stochastic, Bollinger Bands, etc). Nonetheless, I found them to be generally unreliable and not offer specific entry and exit points.

        I now mainly use charts and Moving Averages. I use the weekly chart to determine mid-term trend, the daily chart to determing short-term trend, and the intra-day 10 and 60 minute charts to determine best entry and exit points.

        I still look at the other technical indicators to confirm the probabilities of a trade being successful or not, but not for choosing the trade or entry points.

        Nonetheless, I must admit that using charts does require some knowledge of what the big professional traders are looking to do. I traded on the floor for 2 years in the 80's and learned about what the day and short-term professional traders are looking for. This is not something you can learn easily without being personally on the battlefront. Traders still look to take out stops, create traps, and generate some chaos and if you do not take that into consideration you will be hurt.

        Those are the tools I use.

      • When I was an analyst for Pru-Bache in the 80's I used to use all technical indicators (RSI, Stochastic, Bollinger Bans, etc). I found them to be generally unreliable and did not give specific entry points, exit points etc, meaning that it was difficult to use them efficiently.

        I settled using charts and MA's as they give "specific" levels of support/resistance and are generally reliable if using some common trading sense.

        I use the weekly charts to give me mid-term direction, the daily charts to give short-term direction, and the intra-day chart (10 and 60 minute) to give me detailed entry and exit points.

        I only use charts and MA's now. I do look at other technical indictors to "confim: whether a trade has a high probability of being successful or not, but not for any other reason.

        Nonetheless, I must admit that having traded off of charts for 37 years and traded on the floor for 2 years with professional day and short-term traders has given me a better understanding of what support/resistance levels are likely to hold up or not. This is not something that can easily be taught as you need to be on the battlefront to learn what is important to the big traders and which is not.

 
FSLR
48.80-2.73(-5.29%)Nov 28 1:00 PMEST

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