By Mill Chart
Last update: Sep 28, 2022
FIRST SOLAR INC (NASDAQ:FSLR) was identified as a Technical Breakout Setup Pattern by our stockscreener. Such a pattern occurs when we see a pause in a strong uptrend: after a strong rise the stock is consolidating a bit and at some point the trend may be continued. Whether this actually happens can not be predicted of course, but it may be a good idea to keep and eye on NASDAQ:FSLR.
ChartMill assigns a Technical Rating to every stock. This score ranges from 0 to 10 and is updated daily. The score is determined by evaluating multiple technical indicators and properties.
Taking everything into account, FSLR scores 8 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, FSLR is only an average performer.
Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NASDAQ:FSLR currently has a 7 as setup rating:
FSLR has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 135.83. Right above this resistance zone may be a good entry point. We notice that large players showed an interest for FSLR in the last couple of days, which is a good sign.
A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
Our Breakout analyzer lists more breakout setups and is updated daily.
FIRST SOLAR INC
NASDAQ:FSLR (4/19/2024, 7:00:00 PM)
After market: 175 -0.04 (-0.02%)175.04
+0.75 (+0.43%)
Amidst the fluctuations in the renewable energy market, First Solar (NASDAQ:FSLR) has emerged as a significant player, weathering both the highs and lows of the sector. From its remarkable ascent between July 2022 and May 2023, where it surged more than 350%, to its subsequent decline of nearly 20% from its 2023 peak, the stock […]
Netflix upgraded and downgraded: Wall Street's top analyst calls
FIRST SOLAR INC (NASDAQ:FSLR): a strong growth stock preparing for the next leg up?.
The renewable energy industry is projected to more than quadruple by 2030, invest in these renewable energy stocks to buy now.
These S&P500 stocks are moving in today's session
These three reshoring stocks are strong beneficiaries of a U.S. boom meant to secure supply chains across renewables and chips.
Investors should take note of NASDAQ:FSLR, a growth stock that remains attractively priced.
The solar industry has been rapidly growing as we transition into sustainable energy. Here are the three best solar stocks to buy now.
Invest in renewable energy stocks like BEP and First Solar, which are leveraging legislative support and strategic acquisitions.