Tuesday, June 16, 2009

First Solar: Stock Decisively Breaks Support (will it close there?); Company to Webcast Its Analyst/Investor Meeting on June 24, 2009

Update: The stock closed at $172.04, down $6.94. I'd look for an uptick tomorrow and then a $20-25 downmove.
Original post:
The stock was recently trading at $173.56, down $5.42. As we said a couple weeks ago in
"Will First Solar Close the April 30 Chart Gap? (FSLR)":

Yes. IF it closes below approximately $176.25. When earnings were announced April 30 the stock jumped from the 4-29 close, $151.67 to open at $175, closing at $187.29.
In the past month the stock has had intraday lows of $176.36, $176.84, $176.87 and $176.26 on May 26. Here's the chart from BigCharts:

We'll be warching the close.
And from MarketWatch:
First Solar Inc. will host its 2009 Analyst/Investor Meeting on Wednesday, June 24, 2009. Investors may access a live audio webcast and presentations of this event in the Investor Calendar section of the Company's Web site at http://investor.firstsolar.com/phoenix.zhtml?c=201491&p=irol-calendar. Presentations by First Solar's management team are scheduled to begin at 10:35 AM PDT and conclude by 4:30 PM PDT. A replay of the webcast will be available on the Investor Calendar section on the Company's Web site at http://investor.firstsolar.com/phoenix.zhtml?c=201491&p=irol-calendarPast approximately two hours after the conclusion of the event....