First Solar (FSLR) - 05-07-2008
Sorry, I haven’t been posting many stocks recently due to a combination of a number of things which will probably be explained in the future. I’ve posted about solar stocks a few times in the past, but I don’t think I’ve ever posted FSLR. First Solar is a pretty well known company amongst the solar stocks, and like the rest of them it’s been on a rampage over the past year. I think it still needs a bit more consolidation in this 300 area before it’s a good buy, but the play should be on the breakout. I’m looking for consolidation till the next quarter so that the earnings can catch up to the price though. Don’t mistake the pattern on the daily chart for a cup with handle since the volume peaks at the bottom of what would be the cup. Nevertheless, I do see it as a bullish pattern since the volume spike was on a boost upwards that eventually took us up to the 52 week high.
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