Wednesday, November 24, 2010

First Solar Hits 200 Day Moving Average, Stops Dead in its Tracks (FSLR)

This may be tougher than I thought.
In "Repost: More on the First Solar Initiation by Susquehanna, Likes Dec. $125 Calls (FSLR)" I said:
The one concern I would have going into next week is the 200 day moving average, currently at $127.03.
Mitigating possible resistance at that level is the speed with which the stock fell last week, the SMA didn't provide much support on the way down and may not be the resistance point that is often seen when a stock spends considerable time churning around the line....
Today the stock got to $127.15 and fell back. Currently $126.16, up $1.96.
See also:
First Solar: Trading the Dec. 14 Investors and Analysts Guidance Call--Buy it NOW (FSLR)

Here's the three month chart, via BigCharts: