First Solar shows a strong bullish chart for 2017. It has made higher highs and higher lows, steadily following the uptrend line toward new highs for the year. After reaching a low in April, the company issued a strong Q2 earnings report and made more highs on strong turnover.
The recent rally has created a nice bullish pennant, and Monday’s action was solid. Paced by higher volume and strong money flow, we should see the heat rise as the stock follows the path of the orange lines.
Strong names barely give you a chance to get on board, and First Solar is no exception. The MACD crossed for a modest sell signal, but I expect that to turn upward in the coming days. This is the ideal time to get in.
First Solar (Nasdaq: FSLR) Video Chart Analysis
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About First Solar
First Solar, Inc. provides solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to solar power systems integrators and operators. The Systems segment provides turn-key photovoltaic solar power systems or solar solutions, such as project development; engineering, procurement, and construction; and operating and maintenance services to utilities, independent power producers, commercial and industrial companies, and other system owners. The company was formerly known as First Solar Holdings, Inc. and changed its name to First Solar, Inc. in 2006. First Solar, Inc. was founded in 1999 and is headquartered in Tempe, Arizona
