Thursday, January 13, 2011

First Solar Continues Breakout (FSLR)

On Monday we posted "...Solar stocks are poised to rebound sharply in 2011..." (FSLR; SOL; TSL) with the comment:
You don't have to hit me upside the head more than a couple times.
When First Solar was up $3.00 earlier this morning I thought " Say.... Something may be happening".
Currently up $1.70 at $135.28
Today it's up another buck at $140.83.
I'd expect the stock to consolidate in this area until next weeks option expiration before moving higher.
FSLR has a history of getting pinned at strike prices, but there is serious "pick off the offer" coming into the stock.
The fifty-two week high of $153.30 seems like the target.