The Solar sector is about to launch into its next phase of global expansion and rollout. This is the sector to be in in 2014. You ain't seen nothing yet!!! FSLR to $100.... and beyond.
I hope the shorts took the opportunity to cover this morning. The "consolidation" of the past two weeks is only building the foundation for the next powerful move up. To $65... $70... $75.... and beyond.
Maybe, but I think support is forming at $62. Whether you buy at $61 or $62 really does not matter if you are investing long term (for more than a couple of weeks).
Watch for breakout (up) through yesterday's high of $62.20. From here we should begin to see the big move back up to $65 and on to $70.
FSLR may drop fast on days like yesterday when the shorts are piling on. But it quickly recovers over the following few trading sessions. I expect we will see another new 52-week high above $66 soon followed by a run into the 70s.
This is just a pause that refreshes. Need to "backfill" before another leg higher. Still holding on to my prediction of $70 in a week or two.
Momentum is to the upside. $70 is not far away.... expect to see shares in the 70s next week. FSLR has both fundamentals and technicals supporting higher prices. Shorts are bailing and the institutions are beginning to jump back on board. Expect to see $100 plus in early 2014.
Yesterday's opening gap from $40 to $42 must have ticked off some MMs. Up on big volume and back-fill on light volume. If it settles above $40 today I think $42-$45 is very doable next week.