The slogging has been a little tough since I recommended buying First Solar (FSLR) on the other side of an earnings disappointment. FSLR did disappoint and after the stock broke down from post-earnings consolidation, I insisted the stock remained a buy even as short interest reached new highs. After bouncing 11% so far this week, First Solar is finally printing a pattern that suggests a bottom is developing. The chart below makes the case:
(Click graphic for a larger view)
*Chart created using TeleChart
For archived commentary on FSLR, click here.
Be careful out there!
Full disclosure: long FSLR