35% of float is short...going to take more than this to cover it. When you see a massive up candle on very high volume you will no it's happening in force
FSLR went from 317 in early 2008 to 11.43 in June 2012 that is 4 years but that is an epic drop
Agreed, it would need show the technical turn around before I would place any money on it. Then place a stop loss immediately. Not much left for the bears to short at this level so there could be a nice covering rally as well if it gets any momentum.
I was in this several yrs ago, made a nice profit and sold before it hit t's top of 97 (I sold at 81) I have left it on my watch list and was stunned to see it and the 3D segment get slaughtered like it has. Now I am watching it on the monthly chart, where it looks to be going back to the late 2011 lows at 8.52 area. Speaking only on the monthly chr thee has been no support until this area. If this holds I believe it could be a great time to get back in the stock with a long term (Year) outlook for a run back to moderate levels in the high 20's GL
Agreed, all about earnings. But look at all the years amzn went up....I know apples and oranges...but quite a few "High flyers" are way too high of a p/e ...and yet they still go up. However with that said there is no reason to not have a stop loss on to protect your profits.
When stocks go parabolic they do not adhere to normal trading routines. This could run all the way to 130+ by Christmas then maybe a correction 10 - 15% in January....then resume uptrend...that is what other parabolic stocks have done
Agreed, as well tomorrows trading will be telling with a Hanging Man candlestick from todays trading showing. Will there be follow through or not....I will have my finger on the trigger...either way. GL as well.
The daily RSI is at 83which is elevated. However the other technical are still bullish, look at the Money Flow (CMF) as well as the Accum/Dist line. This is not going down anytime soon, unless bad news hits. A lot of the momo stocks ignore reg technicals as they go parabolic....time will tell
I have placed my wager long, with use of a trailing stop loss. As it gets higher I will buy protective puts for protection.