Solar Flares Are Everywhere: First Solar, Inc, SolarCity Corp

This morning, two leading solar stocks are coming under heavy selling pressure. First Solar Inc (NASDAQ:FSLR), and SolarCity Corp (NASDAQ:SCTY) are both trading around critical support levels on the daily chart. Solar stocks are likely coming under pressure recently due to the weak oil market. Today, light sweet crude is falling lower by $3.00 to $91.50 a barrel.

FSLR stock is trading lower today by $1.46 to $66.05 a share. This level was the break-out area in early August so it will be very important for FSLR stock to hold this level. Any break of this level with volume behind it could signal a decline down to the $56.00 area.

Today, SolarCity Corp (NASDAQ:SCTY) stock is trading lower by 0.94 cents to $60.26 a share. This stock is clinging to the $60.00 level over the past week. Any significant decline from here on volume should send the stock lower. The next major support level for SCTY stock is around the $52.00 level, so there is a lot of potential downside from the current level.

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Nick Santiago
InTheMoneyStocks.com