Will FIRST SOLAR INC breakout?

We've identified FIRST SOLAR INC (NASDAQ:FSLR) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NASDAQ:FSLR for further developments.

Zooming in on the technicals.

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Taking everything into account, FSLR scores 7 out of 10 in our technical rating. In the last year, FSLR was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• When comparing the yearly performance of all stocks, we notice that FSLR is one of the better performing stocks in the market, outperforming 93% of all stocks. We also observe that the gains produced by FSLR over the past year are nicely spread over this period.
• FSLR is part of the Semiconductors & Semiconductor Equipment industry. There are 105 other stocks in this industry. FSLR outperforms 80% of them.
• FSLR is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so FSLR is performing more or less in line with the market.
• In the last month FSLR has a been trading in the 190.10 - 224.50 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

For an up to date full technical analysis you can check the technical report of FSLR

How does the Setup look for NASDAQ:FSLR

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NASDAQ:FSLR is 9:

Besides having an excellent technical rating, FSLR also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 199.75, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for FSLR in the last couple of days, which is a good sign.

How can NASDAQ:FSLR be traded?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

Of course, there are many ways to trade or not trade NASDAQ:FSLR and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.