Despite Gains, ‘Strong Sell’ Downgrade Seen in First Solar

We have yet to see the details from the report as the report is rather new.  With shares up 23% at $18.20, the 52-week range is $11.43 to $113.92 and this is the highest share price going back to very early in May.

If you are a chartist, today’s move higher in the stock took First Solar shares to the highest distance from its 50-day moving average since the average was retested in late-June.  That makes the trading highs and lows extremely important over the last two days as a chartist would bring in key support at that level.  The high yesterday was $15.78 and the close was $14.80; the high on Tuesday was $15.59 and the close was $15.54.

JON C. OGG