From their Early Edge column:
First Solar, Inc.
First Solar, Inc. (FSLR) announced Wednesday night that orders for 2011 have increased by 380 megawatts. The newly expanded contracts were signed with seven existing customers, primarily in Europe. "Our customers continue to expect robust growth in the market for solar electricity in Europe next year," explained FSLR's Stephan Hansen, who serves as managing director of European sales.
FSLR is up 2.7% in pre-market action, so the stock will have a chance today to reclaim the support of its 10-day and 20-day moving averages. These short-term trendlines guided FSLR higher throughout the month of September, but this double-barreled support was breached on Monday.
Options traders aren't buying into FSLR's recent technical surge. The stock's 10-day ISE put/call volume ratio of 1.77 rests in the 73rd annual percentile, as speculators on this exchange have purchased puts over calls at a faster pace just 27% of the time during the past year.
