Chart Review: First Solar Attempts to Bottom

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)


First Solar attempts to bottom
First Solar attempts to bottom

*Chart created using TeleChart

For archived commentary on FSLR, click here.

Be careful out there!

Full disclosure: long FSLR

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