I am giving a MAJOR BUY wave 4 low is in place We have ended what seem to be a major long term LOW in the TAN the solar etf and the main body of this etf FSLR I would now feel we have and are about to advance to a new record high
F3A trade ideas
DESCENDING TRIANGLETop line slopes down and bottom line is virtually flat.
Targets calculated using the wide end of the structure and projecting it up or down from the point of the break.\\This one broke to the downside.
The white line represents a 100% fall but it can fall more or less that this keeping support levels in mind.
Short is a bit over 9%.
Targets is orange below the triangle are for a break to the downside with T1 being in larger type that T2 and so on.
No recommendation
FSLR-SELL strategyNoi change in view, and have traded slightly lower. The pattern suggests in combo GANN support (Black line) and the top of channel, resembles an ascending wedge. This suggests lower levels to be seen. Further, we are overbought, and that's why still SELL strategy preferred.
Strategy SELL @ $ 220-240 and take profit @ $ 181 now (channel support @ $ 176). Break of channel support will lead to $ 130 area.
Stop-loss is wished for @ $ 275 for now.
FSLR- SELL strategyThe previous short worked well from $ 210 till profit target $ 174.00. From that point we corrected sufficient for first correction.
Now we have a sharp increase on VOLAR deal, and again we are above GANN support but its too steep to my liking. Further near channel resistance $ 240.00. The SELL strategy is sell current @ 230-240 and take profit again @ 174.00. Stop-loss place financially above $ 267 for now.
FSLR POP: What NEXT!?Here we are looking at FSLR on the Daily TF…
As you can see, FSLR is currently trading within the expanding channel to the upside. Currently, it’s in the middle of a powerful move of support to the upside. IF FSLR wants to continue its move to the upside, I would expect for it to find resistance at the upwards sloping line, which currently lays at about $248.
Prior to this move up, FSLR had attempted a breakdown of this structure, but powered through. This is a great example of why confirmation signals are so important in trading!
I will continue to monitor this structure, and provide timely updates as I see fit.
Cheers!
FSLR- SELL strategy The first idea profit objective @ 174.00 was me and we respected the GANN support 173.00 area.
Likely the share will mnove little higher at first, and for that reason we SELL anew again @ 195-205 area and place profit area @ 178.00 for now. For long-term positions, we place profit @ 135.00 for now,.
FSLR-Medium-term SELLNo change in view.
Overall, one keeps selling into rallies here, even though the run up has been sharp . This does not negate medium-term objective that may reach $ 130.00 again, with interim stop @ 173.50 area. For now SELL current $ 209.00-2.15 window with first profit objective @ 174.00, and re-instate on corrective action again for a move to $ 135.00.
$FSLR ascending triangle catalyst FSLR has been consolidating since the last earnings and has formed a month and a half ascending triangle. Earnings this coming week could be a catalyst for a move higher. One interesting note, there is a gap pending fill to the upside from 2008! Not saying it will fill next week, but maybe in the next few months, a very interesting trade.
FSLR- SELL LONG-TERMThis one also very much manipulated, and when we look at the long-term picture, it is quite overdone. Besides we are above Gann resistance levels, and also hammer top. I feel within 6-9 month period we should decline towards $ 120.00 for the share. Therefore, SELL current $ 210 level and place stop-loss @ 240 for now and a take profit at $ 135
First Solar 1D Possible Breakout of a Bull Flag FormationThe stock is showing a strong green day which could be the start of a breakout from the current bull flag formation.
First Solar's (FSLR) fundamentals support this thesis. The company has a large backlog which will take multiple years to work through.
It can be cheaper to build and run a solar plant than it is to buy gas for existing natural gas power plants.
First Solar is involved with large utility-scale solar installations with their efficient PV solar panels.
The company has strong expected double-digit revenue and earnings growth for the foreseeable future.
FSLR - Rising channelOn the chart, we can see a rising channel occurring for FSLR.
It has been ranging between the levels for almost 3 quarters.
We expect that the price will stay in the channel for a while.
You can buy at the lower boundary of the channel and exit at the resistance, which is the higher boundary of the channel.
Invalidation of this thesis would be if the price closes out of the channel.
Moreover, you can short at the resistance with a target at the lower boundary of the channel.
Good luck!
