Tuesday, December 8, 2009

First Solar Closes Above 50 Day Moving Average, Dips Below in Early Premarket (FSLR)

Last Thursday we mentioned en passant:
..The stock has traded through the 20 day moving average but the 50 day may be a "pause point".
And reiterated on Friday.

With the stock up $5.56 yesterday, it closed at $135.18. The simple 50-day moving average is at $134.89, the exponential is at $134.52.
In early pre=market the stock is trading down $1.93 at $133.25.

Here's the three month chart (from BigCharts) with the 50-day SMA. You'll note the stock is well into the gap from the last earnings report. I'd expect the stock to approach the top of the gap leading up to the analyst webcast on Dec. 16, aided by a tailwind from the hoopla in Copenhagen. The COP 15 meeting ends December 18. Then I am outta here.