As of now FSLR is right above support zone. I would stay away from it for short term. I think Trump's tariff on Solar Panel imports doesn't help it. Before Trump imposed tariffs on Solar Panel imports...imports have surged and there is an estimated 6 month supply in storage. So...I don't see a big business for another 6 months.
Also...a few groups in Solar Industry are concerned that Tariffs would increase Solar Panel prices and hinder solar industry growth in the USA.
Disclaimer: This is just my opinion, not an advice. Trade at your own risk. I/We short FSLR.
Also...a few groups in Solar Industry are concerned that Tariffs would increase Solar Panel prices and hinder solar industry growth in the USA.
Disclaimer: This is just my opinion, not an advice. Trade at your own risk. I/We short FSLR.
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It held its price at support level very well. Any shorts can be closed and monitor next resistance and support zones. It is a buy for me for long term but I would stay away for 1 more quarter to understand how things play out for it.
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Note: We can play with it for short term also based on short term signals. Just we need to exit before next earnings date.
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Market seems to focus on future possible growth and ignore current supply. It is at weekly resistance right now. If it breaks out then it will hit Monthly resistance around $74. If it breaks out monthly resistance and continues down the path with the same pace...it could hit $90 (first target) and then $120 (second target). I haven't calculated any time projections for this.
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The price reached weekly resistance and moved back to daily support. Now...it is moving towards weekly resistance and if it breaks it move will be big. (Always check total market momentum before individual stock momentum)
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Massive breakout