FIRST SOLAR INC (NASDAQ:FSLR) showing some interesting technicals. Here's why.

Our stockscreener has identified a possible breakout setup on FIRST SOLAR INC (NASDAQ:FSLR). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:FSLR for potential opportunities.

In-Depth Technical Analysis of NASDAQ:FSLR

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

We assign a technical rating of 7 out of 10 to FSLR. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, FSLR is only an average performer.

• The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!
• FSLR is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
• When compared to the yearly performance of all other stocks, FSLR outperforms 64% of them, which is more or less in line with the market.
• FSLR is part of the Semiconductors & Semiconductor Equipment industry. There are 107 other stocks in this industry, FSLR did better than 59% of them.
• FSLR is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so FSLR is lagging the market slightly.

Check the latest full technical report of FSLR for a complete technical analysis.

How do we evaluate the setup for NASDAQ:FSLR?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:FSLR scores a 9 out of 10:

Besides having an excellent technical rating, FSLR also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 182.49. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 175.01, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NASDAQ:FSLR?

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.