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First Solar, Inc. Message Board

  • luckyone581 luckyone581 Feb 27, 2013 9:11 AM Flag

    FSLR Chart Evalution off of today's drop

    The stock is taking a big fall this morning with the stock presently trading around 26.75, which is $4+ dollars below yesterday's close (down 12%).

    The most recent low at 27.60 will be broken on the opening and that will break the recent uptrend. Drops down to the previous weekly "close" breakout at 24.77 are now likely to be seen.

    Though the uptrend will be broken the stock is probably a very good buy when it gets down to that level. It was always expected that at some point that breakout will be tested and it seems that time is now.

    I do not believe the stock will get down to that price today but it could happen before the end of the week, or next week. I will be looking for a good entry point.

    The uptrend is not likely to resume for a month or two but the stock will be very tradeable with $30 dollars as a likely upside objective. Probabilities do favor the stock trading between $25 and $30 for 4-8 weeks, and possibly more. Nonetheless, at $25 I do believe the stock is a good long-term buy as well as a good short-term purchase.

    I will be more specific as to the entry point when I see the trading. It won't be today for sure, in fact the bulls will likely be getting margin calls off of this drop, meaning a good buying spot won't become available for at least 3 days.

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