Nicholas Santiago
InTheMoneyStocks
Monday, September 30, 2019
First Solar Inc Bounces Off Daily Chart Support, But This Trade Level Is Better $FSLR
Leading solar company, First Solar Inc (NASDAQ:FSLR), bounced off of the $56.00 level today. This level was a very important daily chart gap fill from April 9, 2019. It is possible that this current support level could hold up for a few days. Recently, the stock topped out at $68.55 a share on September 23, 2019, so traders can see the sharp decline that the stock has had since that pivot high. Should the current $56.00 support level fail to hold it should cause the stock to see another sharp drop. The next major support level for FSLR stock will be around the $50.00 area. This is where the stock broke out in February 2019. The 200-week moving average is also sitting just above that level as well making this support area very strong and a solid long side trade setup.
