Thursday, May 6, 2010

Solarcoaster: Chinese Solars Taken Out and Shot (faster than a low level functionary accused of corruption) FSLR fills the Gap (FSLR; STP; TSL)

You may have noticed the dearth of posts on solar companies. A couple posts slamming SunPower (SPWRA) and another on Spain having second thoughts on the subsidies were the total output following First Solar's earnings surprise. Even our last FSLR post had this note:
The stock gapped up and is currently trading at $148.35, up $20.22.
I can't recall a single instance where FSLR gapped and didn't (eventually) fill the gap....
Here's the chart:
As you can see, on April 28th when FSLR released their numbers after the close, the stock closed at $128.13. The next morning it opened at $141.83, topped out at $152.53 and closed at $150.87.
That 128 to 141 space on the chart is the gap and at the current $127.24, down $6.71 the gap has been filled.

Today Tickerspy's Chinese solar index is down 8.6%. I'll be back with more, my ride's here.

(image via Freak Out)