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Watch for Shares of First Solar (FSLR) to Approach Resistance at $32.63
Jan 09, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of First Solar (NASDAQ:FSLR) have bullishly opened above the pivot of $31.13 today and have reached the first resistance level of $31.82. Analysts will be watching for a cross of the next upside pivot targets of $32.63 and $34.13.
First Solar (NASDAQ:FSLR) is currently priced 27.4% above its average consensus analyst price target of $23.00. First Solar shares have support at the 50-day moving average (MA) of $27.85 and additional support at the 200-day MA of $21.09.
In the past 52 weeks, shares of First Solar have traded between a low of $11.43 and a high of $50.20 and are now at $31.66, which is 177% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.9%.
SmarTrend recommended that subscribers consider buying shares of First Solar on October 17th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.22. Since that recommendation, shares of First Solar have risen 23.0%. We continue to monitor FSLR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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